posted by frustrating on .
I keep getting the wrong answer on this. My answers have been $243.18 and another was $247.23. ugh.. neither is right, so help plz.
A homeowner planning a kitchen remodeling can afford a $200 monthly payment. How much can the homeowner borrow for 3 years at 5%, compounded monthly, and still stay within the budget? (Round your answer to the nearest cent.)