1.) Jose is going to purchase a new Air Hockey table for his loft at home. He finds one at Target for $3,250.00. He is going to do a 1-year deferment plan to help him save money. After one year has passed and he needs to start making payment, what will his new total be for the hockey table if they are going to charge him 29.99% interest and is compounded monthly? (Hint: Total cost after the year of interest added on) a
$4,328.43
b
$1,120.46
c
$4,370.46
d
$1,078.43

2. Jose is going to purchase a new Air Hockey table for his loft at home. He finds one at Target for $3,250.00. He is going to do a 1-year deferment plan to help him save money. After one year has passed and he needs to start making payment, what will his monthly payment be for the hockey table if they are going to charge him 29.99% interest and is compounded monthly once he is ready to start paying back.

a
$426.04
b
$325.20
c
$437.04
d
$316.91

3. Jose is going to purchase a new Air Hockey table for his loft at home. He finds one at Target for $3,250.00. He is going to do a 1-year deferment plan to help him save money. After one year has passed and he needs to start making payment, how does the total cost compare to the balance when he started making payments? (Hint: Find total paid back using monthly payment first)

a
$1,862.48
b
$742.02
c
$5,112.48
d
$1,120.46