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Stereo Inc. sells a stereo system for $200 down and monthly payments of $30 for the next 5 years. If the interest rate is 1.25%

Stereo Inc. sells a stereo system for $200 down and monthly payments of $30 for the next 5 years. If the interest rate is 1.25% per month, find: a) The cost of the stereo. b) The total amount of interest paid.

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