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A loan of $8500 is repaid by equal payments of $525 made at the end of every month.If interest is 11% compounded semi-annually, how much

A loan of $8500 is repaid by equal payments of $525 made at the end of every month.If interest is 11% compounded semi-annually, how much will be paid out of pocket (in total) to repay the loan plus interest?

a. $9450.00

b. $8724.54

c. $9225.46

d. $10,199.54

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