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A couple buys $8000 worth of furniture and takes advantage of the furniture company's "don't...

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Finance

A couple buys $8000 worth of furniture and takes advantage of the furniture company's "don't pay a cent for 1 year" plan. Exactly one year after buying the furniture, they make the first of 18 monthly payments of R to pay for the furniture. If the interest rate is j12j12= 12%, what is R? You are given a18|0.01=16.39827

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