An installment contract for the purchase of a car requires payments of $234 98 at...
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Finance
An installment contract for the purchase of a car requires payments of $234 98 at the end of each month for 475 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 (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed) (b) The interestiss (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
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