Suppose you buy  $3400 worth of furniture for a new house. The furniture store is offering a fixed installment loan with three-year financing with no money down at  11.93% annual interest.   Find the total installment price. The monthly payment is  $112.82.   Round your answer to the nearest cent.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Suppose you buy 

$3400 worth of furniture for a new house. The furniture store is offering a fixed installment loan with three-year financing with no money down at 
11.93% annual interest.
 
Find the total installment price. The monthly payment is 
$112.82.   Round your answer to the nearest cent.
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