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Stereo Inc. sells a stereo system for $200 down and monthly payments of $60 for the next 4 years. If the interest rate is 2.75%

Stereo Inc. sells a stereo system for $200 down and monthly payments of $60 for the next 4 years. If the interest rate is 2.75% per month , find: a) The cost of the stereo.

Answer = $

b) The total amount of interest paid.

Answer = $

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