SOLUTION: Rachel can amortize a $1700 music center with monthly payments at 1% per month for 3 years. Find the monthly payments. (Round your answer to two decimal places.)

Question 1131690: Rachel can amortize a $1700 music center with monthly payments at 1% per month for 3 years. Find the monthly payments. (Round your answer to two decimal places.)

Found 2 solutions by addingup, MathTherapy:
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
0.01 x 1700/(1-(1+0.01)^360) = 0.4857
Her monthly payment is 48.57

Answer by MathTherapy(10559) (Show Source): You can put this solution on YOUR website!

Rachel can amortize a $1700 music center with monthly payments at 1% per month for 3 years. Find the monthly payments. (Round your answer to two decimal places.)

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