Laila had $350 in her checking account. She had 5 deposits of $46.75 each. She also wrote 3 checks for $28.50 each. Write a deci
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Answer:
P = $ 144.99
Step-by-step explanation:
Given data:
cost of home entertainment center is $2665
duration of deferred payment plan is 18 month
interest rate is 24.36%
Total amount to be paid is
A = 3695.88
From the information in the questioon this amount is to be paid in 3 year . Thus we have
Monthly payment is =
p = monthly payment
Pv = present value = 3695.88
r =rate per period
n = number of period
plugging all value in the above formula
P = $ 144.99