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For the best terms on a loan or credit card, you need a credit score above...

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Finance

For the best terms on a loan or credit card, you need a creditscore above 700. To achieve this, start establishing credit now.Pay all of your bills on time. In addition, use only one-third ofyour available credit limit and pay off your revolving balance(s)each month. R. J. Johnson has excellent credit. She wants topurchase a piece of equipment for her business and was offered 7%for 72 months for the $49,000 unit.

What is her monthly payment by add-on method?(Round your answer to the nearestcent.)

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