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On April 1, 2024, Antonio purchased appliances from the Acme Appliance Company for $2,000. In order to increase sales, Acme allows customers to pay in

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On April 1, 2024, Antonio 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. 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 ply 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) Table 4 Present Value of an Ordinary Anneity of $1 PVA=t1(1)(1+i)P)W

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