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Luisa borrowed to buy a piano, paying $134 at the end of each month for 5 years. The bank charges interest on the loan at
Luisa borrowed to buy a piano, paying $134 at the end of each month for 5 years. The bank charges interest on the loan at 6.72% compounded monthly. (a) What was the cash price of the piano? (b) How much is the cost of financing?
a) The cash price of the piano 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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