Example 2: An individual is considering the purchase of a used automobile. The total price is $9,200 with $1,500 as a downpayment and the balance
Example 2: An individual is considering the purchase of a used automobile. The total price is $9,200 with $1,500 as a downpayment and the balance paid in 36 equal monthly payments with interest at 1% per month. The payments are due at the end of each month. Compute monthly payment
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