Ernie's Electronics sells an LED HD television priced at $2395 for $100 down and payments of $100 per month, including interest at 9.6% compounded monthly. How long after the date of purchase will the final payment be made?

Compounded Monthly

In finance, it refers to the process of computing interest on an investment or loan on a monthly basis, with each month's interest being added to the principal for the calculation of subsequent interest.

Interest

The cost of borrowing money or the payment received for saving or investing money, typically expressed as an annual percentage of the principal.