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This Question: 1 pt of 10 (0 complete) An installment contract for the purchase of a car requires payments of $271.34 at the end of
This Question: 1 pt of 10 (0 complete) An installment contract for the purchase of a car requires payments of $271.34 at the end of each month for 3.75 years. Interest is 12% per annum compounded monthly. (a) What is the amount financed? (b) How much is the interest cost? (a) The amount financed is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest is $0 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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