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March 24, 2017

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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 - ,

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

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