Barbara purchased a home entertainment center for $2,665 using an 18-month deferred payment plan with an interest rate of 24.36%. she did not make any payments during the deferment period. what will barbara's monthly payment be if she must pay off the home entertainment center within three years after the deferment period?

P = $ 144.99

Step-by-step explanation:

Given data:

cost of home entertainment center is $2665

duration of deferred payment plan is 18 month

interest rate is 24.36%

Total amount to be paid is

                                         

A = 3695.88

From the information in the questioon this amount is to be paid in 3 year . Thus we have

Monthly payment is =

p = monthly payment

Pv = present value = 3695.88

r =rate per period

n = number of period

plugging all value in the above formula

P = $ 144.99

The product will have 102 zeroes since if you multiply any number like 1000,10, 10000, etc. then you just add zeroes to the end. If you multiplied a googol and 10 together, you add two more zeroes to the end of the number googol, making it have 102 zeroes.