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What was the purchase price of the refrigerator

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Reference no: EM132918582

Carmella purchased a refrigerator under a conditional sale contract that required 33 monthly payments of $62.76 with the first payment due on the purchase date. The interest rate on the outstanding balance was 18% compounded monthly. (Do not round intermediate calculations and round your final answers to 2 decimal places.)

Problem a. What was the purchase price of the refrigerator?

Problem b. How much interest did Carmella pay during the entire contract?

Reference no: EM132918582

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