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Determine the size of payments

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Reference no: EM131312014

John borrowed $4700 from the bank in order to buy a new piano. He will pay it off by equal payments at the end of each week for 3 years. The annual interest rate is 3.75%. Determine the size of payments, and the total interest paid.

Express your answers rounded to the nearest cent!

Payments: $

Total interest: $

Reference no: EM131312014

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