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38 Suppose you take out a margin loan for $61,000. The rate you pay is an effective rate of 5 percent. If you repay

38 Suppose you take out a margin loan for $61,000. The rate you pay is an effective rate of 5 percent. If you repay the loan in six months, how much interest will you pay? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Interest

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