Chapter 11 - Rational Expressions and Functions - 11-2 Multiplying and Dividing Rational Expressions - Practice and Problem-Solving Exercises - Page 663: 57

88.71 per month

$m = \frac{A*(\frac{r}{12})(1+\frac{r}{12})^n}{(1+\frac{r}{12})^n-1}$ $A = 1500$, $r = .08$, $n = 18$ $m = \frac{1500*(\frac{.08}{12})(1+\frac{.08}{12})^{18}}{(1+\frac{.08}{12})^{18}-1}$ $m = \frac{1500*(.0066666)(1+.0066666)^{18}}{(1+.0066666)^{18}-1}$ $m = \frac{10*(1.12703)}{(1.12703-1)}$ $m = \frac{11.2703}{(.12703)}$ $m = 88.71$