Doris purchased a piano with $300 down and end-of-month payments of $124 for two-and-a-half years at 9% compounded monthly. W The purchase price of the piano was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Doris purchased a piano with $300 down and end-of-month payments of $124 for two-and-a-half years at 9% compounded monthly. W The purchase price of the piano was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:Doris purchased a piano with $300 down and end-of-month payments of $124 for two-and-a-half years at 9% compounded monthly. What was the purchase price of the piano?
The purchase price of the piano was $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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