MATH

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t0. -11,57 points MyNotes I SmithNMl 2 11.2.059. ' Karen and Wayne need to buy a refrigerator because theirs just broke. Unfoftunately, , their savings account is depleted, and they will need to borrow money in order to buy a I new one. Searc offers theman installntent loan at L4o/o (add-on rate). If the . refrigerator at Sears costs $1,518 plus 5olo sales tax, and lGren and Wayne plan to pay , for the refrigerator for 3 years, what is the monthly paynrent? (Round your answer to : the nearest cent.)

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11. -11.57 points MyNotes I SmithNMl2 11.5.020.CM1.

, Use a calculator to evaluate an ordinary annuity formula [t" * r\nt - rlA=ml\ n/ |lrlLnl

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: for ffi, r, and f (respectively). Assurne rmnthly paynrents. (Round youranswerto the , nearest cent.) , S LSO; 4o/o;40 Yr I

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12. -{1.57 points MyNotes I SmithNMl2 11.5.038.CM1.

I Find the arnount of periodic paynent necessary for the deposit to a sinking fund. , (Round your answer to the nearest cent.)

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Amunt Needed Frequency Rate Tirne Anrt

$50,000 semiannually 14o/o 2O yr

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