Problem
Emily Wang financed her office furniture from a furniture dealer. The dealer's terms allowed her to defer payments (including interest) for six months and to make 48 equal? end-of-month payments thereafter. The original note was for $10,000, with interest at 11% compounded monthly. After 38 monthly payments, Emily found herself in a financial bind and went to a loan company for assistance. The loan company offered to pay her debts in one lump sum if she would pay the company $182.97 per month for the next 30 months.
(a) Determine the original monthly payment made to the furniture store.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.