Answer: She will pay 209.74056 each month
Step-by-step explanation:
firstly our cost of computer software = 2938
now the percentage rate of the finance charge per 18 months will be
finance charge rate per 18 months = (rate/12) * 18 = (19/12) * 18 = 28.5% = 0.285
now we find the finance charge
Finance charge = finance charge rate period * cash price
Finance charge = 0.285 * 2938 = 837.33
now we find the installment price
Installment price = finance charge + cash price
Installment price = 837.33 + 2938 = 3775.33
Installment payment = installment payments/number of payment (months)
Installment payment = 3775.44 / 18 = 209.74056
therefore she will pay a sum of 209.74056 each months.
