Finite Mathematics 10. After using your computer for a year or so, you decide to upgrade to a better system. A friend bu

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Finite Mathematics 10 After Using Your Computer For A Year Or So You Decide To Upgrade To A Better System A Friend Bu 1 (33.79 KiB) Viewed 38 times

Finite Mathematics 10. After using your computer for a year or so, you decide to upgrade to a better system. A friend buys your old computer for $750, and you use this for a down-payment on a new system that costs $4200. You finance the balance through the dealer in a sequence of nine substantially equal monthly payments, and the dealer charges 18% annual interest compounded monthly. a) What monthly payment is required? b) Complete the amortization schedule below. Payment Number 1 2 3 4 5 6 7 8 9 Balance Amount of Interest start of month Payment due, at end of month Chapter 3 Principal due, at end of month 3-32 Balance after Payment c) How much did you actually pay for the computer (starting balance + sum of interest column + down payment)?