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4. You need to borrow $7,500 to buy a motorcycle. The dealer offers an APR of 9.25% to be paid off in monthly installments over

4. You need to borrow $7,500 to buy a motorcycle. The dealer offers an APR of 9.25% to be paid off in monthly installments over 3 years.

(a) What is the monthly payment? (7)

(b) How much total interest did you pay? (7)

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