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8 Problem 1 7 Points 9 You take a loan of $15,000 for three years at 3.8% interest. 10 You will pay this all back

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8 Problem 1 7 Points 9 You take a loan of $15,000 for three years at 3.8% interest. 10 You will pay this all back at the end in one lump sum 11 How much will you pay if the lender charges simple interest? 12 How much will you pay if the lender charges compound interest? 12

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