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1. To pay for your education, you've taken out RM25,000 in student loans. If you make monthly payments over 15 years at 7 percent compounded

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1. To pay for your education, you've taken out RM25,000 in student loans. If you make monthly payments over 15 years at 7 percent compounded monthly, how much are your monthly student loan payments? 2. To pay for your child's education, you wish to have accumulated $15,000 at the end of 15 years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 6 percent compounded annually, how much must you deposit each year to obtain your goal

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