Question: Check my world 6 Exercise 5-18 (Algo) Solving for unknown annuity payment; installment notes (LO5-9,5-10] 10 points Don James purchased a new automobile for $13,000.
Check my world 6 Exercise 5-18 (Algo) Solving for unknown annuity payment; installment notes (LO5-9,5-10] 10 points Don James purchased a new automobile for $13,000. Don made a cash down payment of $3,250 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.) eBook Monthly payment References
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