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6. The annual interest rate on a loan is 8 1/2%. The first month's interest is $84.25, what is the amount of the loan? a.

6. The annual interest rate on a loan is 8 1/2%. The first month's interest is $84.25, what is the amount of the loan? a. $12,437.83 b. $11,485.21 c. $11,894.12 d. $11,849.21

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