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Q7 Phil purchases some music equipment for $5680. He pays a 15% deposit, with the balance to be paid in equal monthly instalments at a

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Q7 Phil purchases some music equipment for $5680. He pays a 15% deposit, with the balance to be paid in equal monthly instalments at a flat rate of 9% p.a. interest over 4 years. (i) How much is still owing (the balance) after the deposit has been paid? (ii) What is each monthly instalment

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