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A loan of $30,000 is to be paid off with equal monthly payments over a period of 7% years. If the first payment is made

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A loan of $30,000 is to be paid off with equal monthly payments over a period of 7% years. If the first payment is made one month after the loan being accepted and the fixed interest rate is 6%p.a. compound monthly, calculate the amount of the monthly payment. Then calculate how much interest in total is paid

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