Answer to Question #288446 in Financial Math for Hehe

Question

Payment of 700.00 every month for one (1) year that will start at the end of the third month. What is the period of deferral?

Answer 1

Solution:

Given:

$t=\frac{3}{12}$

$n=12$

$k=nt-1$

$k=(\frac{3}{12}×12)-1=2$