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On Aprll 1, 2021, John Vaughn purchased appliances from the Acme Appllance Company for $1,800. In order to Increase sales, Acme allows customers to pay
On Aprll 1, 2021, John Vaughn purchased appliances from the Acme Appllance Company for $1,800. 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, 2021. The annual interest rate implicit in this agreement Is 24%. (FV of \$1, PV of \$1, FVA of \$1, PVA of \$1, FVAD of $1 and (Use approprlate factor(s) from the tables provlded.) Required: Calculate the monthly payment necessary for John to pay for his purchases. (Do not round Intermedlate calculations. Round your final answer to nearest whole dollar amount.)
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