Find the monthly interest payment in the situation below. Vic bought a new plasma TV for $2400. He made a down payment of $500

Question

Find the monthly interest payment in the situation below.
Vic bought a new plasma TV for $2400. He made a down payment of $500 and then financed the balance through the store. Unfortunately, he was unable to make the first monthly payment and now pays 4% interest per month on the balance (while he watches his TV).
What is Vic's monthly interest payment?
$ (Round to the nearest dollar as needed.)

Kunduz · Accepted Answer

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