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Karolyn takes out an installment loan to finance the purchase of a violin costing $ 1 4 , 7 5 0 . Her loan requires

Karolyn takes out an installment loan to finance the purchase of a violin costing $

14, 750 .

Her loan requires a

10.625 %

down payment and equal monthly payments of $

355

for

48

months. Calculate the total deferred payment price.

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