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A company gets approved for a $5,000 dollar loan to be paid in 18 monthly payments, each for $50 plus 2 extra payments in months

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A company gets approved for a $5,000 dollar loan to be paid in 18 monthly payments, each for $50 plus 2 extra payments in months 6 and 12. This loan is financed with an interest rate of 3% per month. How much money does the company spend in the 2 extra payments? Answer: $2,802 dollars

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