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A loan, amortized over 3 years, is repaid by making payments of $1,600 at the end of every month. If the interest rate is 4.50%

A loan, amortized over 3 years, is repaid by making payments of $1,600 at the end of every month. If the interest rate is 4.50% compounded semi-annually, what was the loan principal? Round to the nearest cent

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