Question: Determine the amount of the periodic payments needed to pay off the following purchases. Payments are made at the end of the period. 1. Purchase

Determine the amount of the periodic payments needed to pay off the following purchases. Payments are made at the end of the period.

1. Purchase of a flat-screen TV for $1,205 Monthly payments are to be made for one year with interest at 24% per annum, compounded monthly.

2. Purchase of a waterskiing boat for $26,565. Quarterly payments are to be made for four years with interest at 8% per annum, compounded quarterly.

3. Purchase of a condominium for $65,500. Semiannual payments are to be made for 10 years with interest at 10% per annum, compounded semiannually.

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