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An installment contract for the purchase of a car requires payments of $297 78 at...

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Finance

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An installment contract for the purchase of a car requires payments of $297 78 at the end of each month for 3.5 years. Interest is 9% per annum compounded monthly (a) What is the amount financed? (6) 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 $ (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed.)

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