You want to purchase a computer that has a price of $2206 plus 5% sales tax, and you decide to pay for it with installments over 9 years. The store tells you that the interest rate is 13%. What is the amount of each monthly payment? Round to the nearest hundredths.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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You want to purchase a computer that has a price of $2206 plus 5% sales tax, and you decide to pay for it with installments over 9 years. The store tells you that the interest rate is 13%. What is the amount of each monthly payment? Round to the nearest hundredths.

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