A medical clinic purchases an x-ray machine at a cost of $26,990. After a deposit of $2,690, the balance is due in 54 equal monthly payments. Calculate the monthly payment.

Name: A medical clinic purchases an x-ray machine at a cost of $26,990. After a deposit of $2,690, the balance is due in 54 equal monthly payments. Calculate the monthly payment.
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Question

Quizplus · Accepted Answer

The balance after the deposit is $26,990 - $2,690 = $24,300. Dividing this by 54 months gives a monthly payment of $450.

A Medical Clinic Purchases an X-Ray Machine at a Cost