Humberto runs a private computer networking company, and needs a loan of ($ 31,500) for new equipment.
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Humberto runs a private computer networking company, and needs a loan of \(\$ 31,500\) for new equipment. He shops around for the lowest interest rate he can find. He finds a rate of \(8.9 \%\) interest for a 10 -year term. How much will Humberto's payoff be at the end of the 10 years?
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