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An installment contract for the purchase of a car requires payments of 200 87 at...

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Algebra

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An installment contract for the purchase of a car requires payments of 200 87 at the end of each month for 4 25 years Interest is 4 per annum compounded monthly a What is the amount financed b How much is the interest cost a The amount financed is S Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed

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