The manager of Gloria's Boutique has approved Carla's application for 24 months of credit with maximum monthly payments of $70. If the APR is 14.2%, what is the maximum initial purchase that Carla can buy on credit?
a. 1,006.90
b. 1,300.00
c. 1,455.08
d. 1,184.75
e. 1,228.46
Ans: c. 1,455.08
Business
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