Question: Stereo Inc. sells a stereo system for $100 down and monthly payments of $90 for the next 3 years. If the interest rate is 1.25%

Stereo Inc. sells a stereo system for $100 down and monthly payments of $90 for the next 3 years. If the interest rate is 1.25% per month, find the following. Give your answers in dollars (including the dollar signs) with two decimal places of accuracy. a) The cost of the stereo: b) The total amount of interest paid:

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