Question
Stereo Inc. sells a stereo system for $300 down and monthly payments of $40 for the next 2 years. If the interest rate is 3.25% per month, find:
a) The cost of the stereo.
b) The total amount of interest paid.
I am having trouble figuring out the correct layout.
a) The cost of the stereo.
b) The total amount of interest paid.
I am having trouble figuring out the correct layout.
Answers
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