Posted by jack on .
Stereo Inc. sells a stereo system for $300 down and monthly payments of $80 for the next 3 years. If the interest rate is 3.25 % per month, what is the cost of the stereo?

business math 
helper,
Are you sure the interest is 3.25% per month? That is 39% per year. Maybe you mean 3.25% per year?