An item is purchased for 24 monthly payments of $150. The first payment is due on the
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An item is purchased for 24 monthly payments of $150. The first payment is due on the date of sale, and the interest rate charged on the balance is 18% compounded monthly. What is the purchase price of the item?
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Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Posted Date: