If you buy a computer directly from the manufacturer for $2,456 and agree to repay it in 36 equal installments at 1.58% interest per month on the unpaid balance, how much are your monthly payments? How much total interest will be paid? Your monthly payment is $ The total interest paid is $ *** (Round to two decimal places.) (Round to two decimal places.)

If you buy a computer directly from the manufacturer for $2,456 and agree to repay it in 36 equal installments at 1.58% interest per month on the unpaid balance, how much are your monthly payments? How much total interest will be paid? Your monthly payment is $ The total interest paid is $ *** (Round to two decimal places.) (Round to two decimal places.)

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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