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8. To pay for his daughter's wedding, Mike borrows $7500 from his friend. The loan was for 24 months and had a simple interest rate

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8. To pay for his daughter's wedding, Mike borrows $7500 from his friend. The loan was for 24 months and had a simple interest rate of 2.5%. Determine the amount Mike paid his friend on the date of the maturity of the loan

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