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On April 1, 2018, John Vaughn purchased appliances from the Acme Appliance Company for $2,000, In order to increase sales, Acme allows customers to pay

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On April 1, 2018, John Vaughn purchased appliances from the Acme Appliance Company for $2,000, In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly payments; beginning October 1, 2018. The annual interest rate implicit in this agreement is 24\%. (FV of \$1. PV of \$1. FVA of \$1. PVA of S1. FVAD of $1 and PVAD of \$) (Use appropriate factor(s) from the tables provided.) Required: Calculate the monthly payment necessary for John to pay for his purchases. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)

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