Question
Stereo Inc. sells a stereo system for $500 down and monthly payments of $60 for the next 2 years. If the interest rate is 5%
Stereo Inc. sells a stereo system for $500 down and monthly payments of $60 for the next 2 years. If the interest rate is 5% per year, find:
a) The cost of the stereo.
Answer = $
b) The total amount of interest paid.
Answer = $
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Personal Finance
Authors: Jeff Madura
7th Edition
0134989961, 978-0134989969
