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Annual interest rates are 10%. You buy a smartphone for $300 and use it for two years. Each month, you pay a $30 fee

Annual interest rates are 10%. You buy a smartphone for $300 and use it for two years. Each month, you pay a $30 fee for your asm data plan. At the end of two years, you decide to upgrade to the newest model, and sell the phone for $50. What is the Total Cost of Ownership for this phone?

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