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A graduate has just taken out an amortized car loan of $30,000 today. The loan has a 3.60% APR with monthly compounding. The term of

A graduate has just taken out an amortized car loan of $30,000 today. The loan has a 3.60% APR with monthly compounding. The term of the loan is 7 years. The graduate would like to pay off the loan early and plans on paying the remaining balance after the 3rd year of payments. What will be the loan balance after the 3rd year of payments?

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