Monica bought a $1250 stereo system for 20% down, with the balance to be paid with interest

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Monica bought a $1250 stereo system for 20% down, with the balance to be paid with interest at 15% compounded monthly in six equal monthly payments. Construct the full amortization schedule for the debt. Calculate the total interest paid.

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 08:04 AM

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Monica bought a $1250 stereo system for 20% down, with the balance to be paid with interest

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Given PV 1000 n 6 i 15 12 125 Substitute into formula 102 and solve for PMT Payment Inter...View the full answer

Business Mathematics In Canada

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