On April $1,2024,$ Antonio purchased appliances from the Acme Appliance Company for $$1,200.$ In order to increase sales, Acme allows

customers to pay in installments and will defer any payments for six months. Antonio will make $18$ equal monthly payments, beginning

October $1,2024.$ The annual interest rate implicit in this agreement is $24\%.$

Required:

Calculate the monthly payment necessary for Antonio to pay for his purchases.

Note: Use tables, Excel, or a financial calculator. Do not round intermediate calculations. Round your final answers to nearest

whole dollar amount. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Monthly payment