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Noah's Bakery purchased new commercial oven by agreeing to make monthly payments of $485.80 for five years. The interest is 5.2% compounded monthly. a) What
Noah's Bakery purchased new commercial oven by agreeing to make monthly payments of $485.80 for five years. The interest is 5.2% compounded monthly.
a) What is the original value of the oven?
b) If Noah's Bakery missed first 8 payments, how much do they have to pay on the 9th month?
c) On the 9th month, if Noah's Bakery decided to pay off the whole remaining balance along with the 9th month payment, how much does Noah's Bakery have to pay?
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