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Mr. Fulano de Tal Perencejo paid an early $ 2000 for the purchase of a car. Then he paid $ 200 per month for 36
Mr. Fulano de Tal Perencejo paid an early $ 2000 for the purchase of a car. Then he paid $ 200 per month for 36 months at 12% interest per year compounded monthly to pay off the rest of the cost of the car. (Value 6 points)
What was the original cost of the car?
What proportion of the payments are interest charges?
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