Question: (3 points) Stereo Inc. sells a stereo system for $100 down and monthly payments of $60 for the next 2 years. If the interest rate

(3 points) Stereo Inc. sells a stereo system for $100 down and monthly payments of $60 for the next 2 years. If the interest rate is 3.25% per month, find: a) The cost of the stereo. Answers b) The total amount of interest paid. Answers

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