Sarah bought a lawnmower for \$320. She signed up for the buy now pay later plan at the store with the following conditions: \$100 down and payments of \$25 for the next 12 months. The extra cost paid by taking this plan is equivalent to what actual yearly rate of interest? A. 65% B. 85% C. 25% D. 67%
Updated 8/11/2021 3:00:32 AM
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User: Sarah bought a lawnmower for \$320. She signed up for the buy now pay later plan at the store with the following conditions: \$100 down and payments of \$25 for the next 12 months. The extra cost paid by taking this plan is equivalent to what actual yearly rate of interest? A. 65% B. 85% C. 25% D. 67%

Weegy: The extra cost paid by taking this plan is equivalent to D. 67%.

User: sure is not 25%

Updated 8/11/2021 3:00:32 AM
This conversation has been flagged as incorrect.
Flagged by Jona11 [8/11/2021 3:00:28 AM]
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Sarah bought a lawnmower for \$320. She signed up for the buy now pay later plan at the store with the following conditions: \$100 down and payments of \$25 for the next 12 months ; 100 down+25 times 12 months ; 100+25 * 12 ; 100+300 = 400 ; difference = 400-320=80 ; percent increase since it is 1 year = 80/320 =1/4=0.25 = 25/100=25%

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