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Stereo Inc. sells a stereo system for $200200 down and monthly payments of $9090 for the next 2 years. If the interest rate is 55%

Stereo Inc. sells a stereo system for $200200 down and monthly payments of $9090 for the next 2 years. If the interest rate is 55% per year compounded monthly, find: a) The cost of the stereo.

Answer = $

b) The total amount of interest paid.

Answer = $

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