monthly payment? (Round your answer to the nearest cent.) Hint: See Section 11.2, Example 1 $

Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings account is depleted, and they will need to borrow money in order to buy a new one. Sea offers them an installment loan at 12% (add-on rate). If the refrigerator at Sears costs $1,518 plus 5% sales tax, and Karen and Wayne plan to pay for the refrigerator for 3 years, what is monthly payment? (Round your answer to the nearest cent.) Hint: See Section 11.2, Example 1 Submit Answer