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A friend agreed to lend you money today. You must repay your friend by making payments of $30 per month for the next six months.

A friend agreed to lend you money today. You must repay your friend by making payments of $30 per month for the next six months. The first payment must be paid today. In addition, you must pay 2 percent interest per month. How much total interest will you end up paying your friend?


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