what is the equivalent cash price of the laptop?

I can purchase Aa computer for 36 monthly payments of 68 dollars a month . the interest rate is 10.5% compounded monthly What is the equivalent price of the computor?
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1 Answer

A = P (1 + r/n) ^ (nt)

A =36*68 (1 +0.105/12) ^ 36

 =2448(1+0.00875)^36

=2448(1.00875)36

=2448(1.368)

=3348.864

=$3349 (rounded )
by Level 8 User (32.3k points)

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