Respuesta :

mathmate
Assume first payment is at the end of the first month.

APR=8% per annum = 0.08/12 per month
n=12 months
Monthly payment, A = $100

Future value 
[tex]F=\frac{A((1+i)^n-1)}{i}[/tex]
[tex]=\frac{100((1+0.066/12)^12-1)}{0.066/12}[/tex]
[tex]=6.803356/0.0055[/tex]
[tex]=1236.97[/tex]

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