A problem is listed below. Identify its type.

A certain company has purchased new swivel chairs for its employees. The company made the purchase on a credit plan at Buy Right. Their monthly payments are $1,000 for 4 years. Buy Right will charge 2.25% per year compounded monthly. How much was the original total price of the furniture?

Question

A problem is listed below.  Identify its type.

A certain company has purchased new swivel chairs for its employees.  The company made the purchase on a credit plan at Buy Right.  Their monthly payments are $1,000 for 4 years.  Buy Right will charge 2.25% per year compounded monthly.  How much was the original total price of the furniture?

help!!!! · Answer

so i would do interest=price* rate* time or i=prt 
You are looking for price or p, so plug in what you know

help!!!! · Answer

you get it?