Question: Cuthbert buys a big screen TV on Installment for $950. If he must pay interest using the add-on method at an APR of 16% and

Cuthbert buys a big screen TV on Installment for $950. If he must pay interest using the add-on method at an APR of 16% and he must pay this off with monthly payments for two years, what is the amount of the monthly payment?

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