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Fritz Benjamin buys a car costing $6700. He agrees to make payments at the end of each monthly period for 4 years. He pays 9.6%
Fritz Benjamin buys a car costing $6700. He agrees to make payments at the end of each monthly period for 4 years. He pays 9.6% interest, compounded monthly. (a) Fritz's monthly payment is $ (Round to the nearest cent as needed.) (a) What is the amount of each payment? (b) Find the total amount of interest Fritz will pay. (b) Fritz will pay a total of $ in interest. (Round to the nearest cent as needed.)
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