Carmella purchased a refrigerator under a conditional sale contract that required 24 monthly payments of $63.26 with the first payment due on the purchase date. The interest rate on the outstanding...


Carmella purchased a refrigerator under a conditional sale contract that required 24 monthly payments of $63.26 with the first payment due on the purchase date. The interest rate on the outstanding balance was 14% compounded monthly. What was the purchase price of the refrigerator? How much interest did Carmella pay during the entire contract? Do not round immediately calculations and round your final answer to 2 decimal places.



Jun 03, 2022
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