You decided to buy a TV set on an installment basis. agree to pay 2, 999 every end of the month, with 18 equal monthly payments at a 2% interest rate. How much are your payments after 18 months?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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You decided to buy a TV set on an installment basis and
agree to pay 2, 999 every end of the month, with 18
equal monthly payments at a 2% interest rate. How
much are your payments after 18 months?
(Note: Cut four decimal places and round- off to the
nearest ten thousandths for i computed value)
Transcribed Image Text:You decided to buy a TV set on an installment basis and agree to pay 2, 999 every end of the month, with 18 equal monthly payments at a 2% interest rate. How much are your payments after 18 months? (Note: Cut four decimal places and round- off to the nearest ten thousandths for i computed value)
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