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An installment contract for the purchase of a car requires payments of $268.97 at the end of each month for 2.5 years. Interest is 10%
An installment contract for the purchase of a car requires payments of $268.97 at the end of each month for 2.5 years. Interest is 10% per annum compounded monthly (a) What is the amount financed? (b) How much is the interest cost? (a Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.hr (b) The interest is (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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