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7. A homeowner planning a kitchen remodeling can afford a $600 monthly payment. How much can the homeowner borrow for 5 years at 6% compounded

7. A homeowner planning a kitchen remodeling can afford a $600 monthly payment. How much can the homeowner borrow for 5 years at 6% compounded monthly and still stay within the budget? 8. AdriAnne and Anna's Auto Repair wants to add a new service bay. How much can they borrow at 5% compounded quarterly for 4 years, if the desired quar- terly payment is $10,000

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