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Unformatted text preview: equal monthly payments including all interest due. If the bank charges 1% per month on the unpaid balance (12% per year compounded monthly), how much should each payment be to retire the total debt, including interest in 36 months? ( 29 n i i PV PMT-+-= 1 1 4. Assume that you buy a television set for $800 and agree to pay for it in 18 equal monthly payments at 1.5% interest per month on the unpaid balance. How much are your payments?...
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This note was uploaded on 09/08/2010 for the course MATH 70 at San Jose State University .