Becky purchased a home entertainment center for $2,254 using an 18-month deferred payment plan with an interest rate of 22.48%. She did not make any payments during the deferment period. What will Becky's monthly payment be if she must pay off the home entertainment center within three years after the deferment period? I’m very confused and doubt I did it right. Please help!!!

Complete question :

Becky purchased a home entertainment center for $2,254 using an 18-month deferred payment plan with an interest rate of 22.48%. She did not make any payments during the deferment period. What will Becky's monthly payment be if she must pay off the home entertainment center within three years after the deferment period?

$76.69

Step-by-step explanation:

Given that :

Purchase price = $2254

Interest rate = 22.48% = 0.2248

Payment period = 3 years

Number of months = 12 * 3 = 36 months

Monthly payment :

Total amount to be paid = Purchase price + interest on amount

Total amount to be paid :

2254 + (0.2248*2254) = 2760.6992

Monthly payment :

2760.6992 / 36

= 76.686088

= 76.69