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What was the purchase price of the furniture

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Question: INSTALLMENT FINANCING Peggy made a down payment of $400 toward the purchase of new furniture. To pay the balance of the purchase price, she has secured a loan from her bank at 12%/year compounded monthly. Under the terms of her finance agreement, she is required to make payments of $75.32 at the end of each month for 24 mo. What was the purchase price of the furniture?

Reference no: EM131556893

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