Question: Exercise 5-20 (Algo) Deferred annuities; solving for annuity amount [LO5-8, 5-9] On April 1, 2024, Antonio purchased applances from the Acme Applance Company for $1,00.

Exercise 5-20 (Algo) Deferred annuities; solving for annuity amount [LO5-8, 5-9] On April 1, 2024, Antonio purchased applances from the Acme Applance Company for $1,00. in order to increase sales, Acme aliown customers to pay in installiments and will deter any payments for sox months. Antonio will make 18 equal morithly payments, beginning October 1, 2024 The annual interest rote implicit in this agreement is 24% Required: Calculate the monthly payment neccessary for Antonio to pay for his purchoses Note: Use tables, Excel, or a financial calculetor. Do not round intermediate calculations. Round your final answers to nearest

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