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A company currently owes $20,000 to a bank for a loan it took 2 years and 8 months ago. The interest rate charged on the

A company currently owes $20,000 to a bank for a loan it took 2 years and 8 months ago. The interest rate charged on the loan was 5.5% compounded monthly.

a. What was the original principal of the loan?

b. What was the amount of interest charged on the loan?

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