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3. You just received a cash advance offer in an email. The company is offering you $15,000 at 17.9 percent interest compounded monthly. The monthly

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3. You just received a cash advance offer in an email. The company is offering you $15,000 at 17.9 percent interest compounded monthly. The monthly payment is only $325. If you accept this offer, how long will it take you to pay off the loan if you continue to pay the minimum monthly payment? A. 5.32 years B. 6.56 years C. 12.65 years D. 17.11 years E. None of the above 4. If you invest $8,000 today into a savings account that pays 5.25% interest compounded daily, what will your balance be 10 years from now? A. $13,344.77 B. $13,523.16 C. $14,668.29 D. $14,945.17 E. None of the above

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