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Ramon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no

Ramon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,820 Down payment $0 Annual percentage rate 15.28% Deferred price $11,284.20 or 60 payments at $188.07 per month a. Calculate the amount financed. b. Calculate the finance charge. (Round your answer to the nearest cent.)

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