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Youngchang Keyboard sells a $2950 keyboard on a monthly payment plan over 5 years. a) If the interest rate is 8.75% per year, what is

Youngchang Keyboard sells a $2950 keyboard on a monthly payment plan over 5 years.

a) If the interest rate is 8.75% per year, what is the monthly payment?

b) If instead the interest rate is 9% per year, what is the monthly payment?

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