Question
Olivia purchased bedroom furniture at a total cost of $2,848.13. She put down $550.00 and borrowed the rest from the store at a rate of
Olivia purchased bedroom furniture at a total cost of $2,848.13. She put down $550.00 and borrowed the rest from the store at a rate of 3% annual simple interest for 18months. What is the monthly payment on this loan? (Round to nearest cent.)
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
