Cyndi Bought a Multimedia Home Computer System for $4500 and Agreed

question 153

Short Answer

Cyndi bought a multimedia home computer system for $4500 and agreed to pay off the loan by making monthly payments of $109.If the store charges an interest rate of 9.7% compounded monthly,how many months will it take to pay off the debt?

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Definitions:

Consent

Agreement or permission given by a person with full understanding of the implications.

Reasonable Care

The level of carefulness and attention that a reasonably wise and practical individual would apply under comparable conditions.

Landlord

The owner of a property who leases it to a tenant under a rental agreement, responsible for maintaining the property and adhering to the lease terms.

Tenants

Tenants are individuals who occupy land or property rented from a landlord.