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3. You borrow $10,000 for 5 years at 12% simple interest. Calculate the following (10 pts): a. How much interest will you pay at maturity?

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3. You borrow $10,000 for 5 years at 12% simple interest. Calculate the following (10 pts): a. How much interest will you pay at maturity? b. What is the total amount that you will owe at maturity? c. If interest was compounded monthly, what would the interest accrual be at the end of month three? d. If this loan was equally amortized (equal payments) at the stated rate and term, what would the monthly payments be? c. If this loan was repaid using the equal payment method, how much interest would be paid over the life of the loan? f. Prepare an amortization for this loan

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