Question: Hi there, Please help me solve this problem. Much appreciated! If you can please show your work. Thank you! :) Gemma purchases a $1200 sound

Hi there,

Please help me solve this problem. Much appreciated! If you can please show your work.

Thank you! :)

Gemma purchases a $1200 sound system with $400 down and repays the balance with equal monthly payments for two years. Interest is calculated at 12%/a compounded monthly.

a) Find her monthly payment

b) How much interest did Gemma pay in total?

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