Respuesta :
Given:
Cost = $2915
16% per year finance charge
Find-: Each month pay amount
Sol:
The cost of computer software = 2915
The percentage rate of the finance charge per 18 months will be.
Rate of change in 18 month is:
[tex]\begin{gathered} (\frac{16}{12})\times18 \\ \\ =24\% \\ \\ =0.24 \end{gathered}[/tex]Now the find finance charge:
[tex]\begin{gathered} =\text{ 0.24}\times2915 \\ \\ =699.6 \end{gathered}[/tex]Installment price = finance charge + cash price
The installment price is:
[tex]\begin{gathered} =699.6+2915 \\ \\ =3614.6 \end{gathered}[/tex]The installment payment = installment payment / number of payment
[tex]\begin{gathered} =\frac{3614.6}{18} \\ \\ \approx201 \end{gathered}[/tex]So each month payment is 201
