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?

y= -

$655.61 which is option c

step-by-step explanation:

price of house =   $146,000

initial rate = 3.5%

mortgaged paid in this = 3.5 % of $146,000

                                        =

                                        =$5110

the total years would be = 7

total mortgaged paid = 7 * $5110

                                      =$35770

remaining money = $146000-35770

                                =$110230

new mortgaged payment = 5 % of 110230

                                            =  

                                            =$655.61