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You have purchased a new stereo on the installment plan the

Question: 1. You have purchased a new stereo on the installment plan. The plan calls for 12 monthly payments of $45 and a $115 finance charge. After nine months you decide to pay off the loan. How much is the refund?

2. Find the finance charge on $371 if the interest charge is 1.4% of the average daily balance.

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Mathematics: You have purchased a new stereo on the installment plan the

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Mathematics: You have purchased a new stereo on the installment plan the

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