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Leons has a promotion on a refrigerator selling for $1750. Buyers will pay no money down and no payments for six months. The first of
Leons has a promotion on a refrigerator selling for $1750. Buyers will pay "no money down and no payments for six months." The first of 12 equal monthly payments is required 6 months from the purchase date. What should the monthly payments be if Leons is to earn 15% compounded monthly on its account receivable during both the deferred period and repayment period? Select one: a. $168.07 b. $1862.14 c. $182.24 d. $170.17 e. $1885.42
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