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1) Sean borrows $12,000 at a rate of discount of 6% in January 1, 2020. He plans to repay the loan with payments of $8,000

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1) Sean borrows $12,000 at a rate of discount of 6% in January 1, 2020. He plans to repay the loan with payments of $8,000 in his account on December 31, 2021 plus an additional payment on June 30, 2024. a) Find the amount of his payment in June 2024. b) Find the amount of interest that he pays on the loan. [5 points)

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