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Josefina Torres and her husband need $85,000 to plant pecan trees on their small farm. They pay $20,000 down and finance the balance with 40

image text in transcribed Josefina Torres and her husband need $85,000 to plant pecan trees on their small farm. They pay $20,000 down and finance the balance with 40 payments of $1942.24. Find (a) the total installment cost and (b) the annual percentage rate (Two Answers / 2pt.)

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