Question

If you buy a computer directly from the manufacturer for $ 2 comma 749 and agree to repay it in 60 equal installments at 1.83 % interest per month on the unpaid​ balance, how much are your monthly​ payments? How much total interest will be​ paid?

Answer 1

a.	Monthly Payment	=-pmt(rate,nper,pv,fv)
			= $ 75.86
	Where,
	rate	=	1.83%
	nper	=	60
	pv	=	$       2,749
	fv	=	0
b.	Total interest payment	$ 1,802.71
Working:
	Total repayment	=	$       75.86	*	60	=	$ 4,551.71
	Loan amount	=					$ 2,749.00
	Interest Paid					$ 1,802.71