A computer with software costs $2,987, and Docie Johnson has agreed to pay 19% per year finance charge on the cash price. If she contracts to pay the loan in 18 months, how much will she pay each month?

Answer 1

2,987 * 0.19 * 1.5 = 851.30

851.3 + 2,987 = 3838.3

3838.3 / 18 = ?

Answer 2

$213.24