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Algebra
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OpenStudy (anonymous):
an auto sterio dealer sells a system for $600 down then $30/month for 3 years. The interest rate is 1.25%. Find the cost of the sterio if you were not paying interest. Now, this has got to be some kind of annuities or amortization formula. The answer is $1465.42. I just don't know what formula to use to get there, can someone please help me ASAP?
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