Question: A school realizes that they need a new copy machine for their main office. The copy machine costs $4,500. After speaking with the financial advisor,

A school realizes that they need a new copy machine for

A school realizes that they need a new copy machine for their main office. The copy machine costs $4,500. After speaking with the financial advisor, they decide to pay 10% of the cost of the machine in cash and finance the rest through their credit union. How much is their monthly payment if the credit union will charge 2% per year compounded monthly for 2 years? a) $33.44 b) $172.29 $208.03 d) $182.29 $23.44 f) None of the above. Review Later

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