SOLUTION: Shania has decided to purchase a new living room suite for $3,985.00, including tax. She chose to buy it with her credit card, with an annual interest rate of 24.99%.
What month
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Shania has decided to purchase a new living room suite for $3,985.00, including tax. She chose to buy it with her credit card, with an annual interest rate of 24.99%.
What month
Log On
Question 1163690: Shania has decided to purchase a new living room suite for $3,985.00, including tax. She chose to buy it with her credit card, with an annual interest rate of 24.99%.
What monthly payment would Shania have to make to pay off this balance in three years? Answer by solver91311(24713) (Show Source):
Let represent the Monthly Payment for a fully amortized loan for a principal amount of at rate of interest per month expressed as a decimal for months.
Plug in your numbers and do the arithmetic.
John
My calculator said it, I believe it, that settles it
