An installment contract for the purpose of a car requires payment of $328.58 at the end of each month for 3.75 years. interest is 5% per annum compounded monthly.
(a) What is the amount financed?
(b) How much is the interest cost?
(a) The amount financed is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)
(b) The interest is $
​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)