Question: accounting Exercise 5.20 (Algo) Deferred annuities; solving for annuity amount [LO5-8, 5-9] On April 1, 2024, Antonio purchased appliances from the Acme Applance Company for

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Exercise 5.20 (Algo) Deferred annuities; solving for annuity amount [LO5-8, 5-9] On April 1, 2024, Antonio purchased appliances from the Acme Applance Company for $1600 in order to increase sales, Acme allows customers to pay in installments and will defer any payments for 5ix 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 pay for his purchases Note: Use tables, Excel, or o financial calculator, Do not round intermediate calculotions. Round your final answers to nearest whole dollor amount. (EV of S1. PV of S1. EVA of S1. PVA of S1. EVAD of S1 and PVAD of S1)

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