13 Jackson wants to buy a new computer for $3500. He considers buying the computer on a no-deposit leasing arrangement with terms of 14.4% per annum simple interest over three years with equal monthly repayments. How much would Jackson's monthly repayment be under this proposal? Answer correct to the nearest cent.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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13 Jackson wants to buy a new computer for $3500. He considers buying the computer on a
no-deposit leasing arrangement with terms of 14.4% per annum simple interest over three years
with equal monthly repayments. How much would Jackson's monthly repayment be under this
proposal? Answer correct to the nearest cent.
Transcribed Image Text:13 Jackson wants to buy a new computer for $3500. He considers buying the computer on a no-deposit leasing arrangement with terms of 14.4% per annum simple interest over three years with equal monthly repayments. How much would Jackson's monthly repayment be under this proposal? Answer correct to the nearest cent.
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