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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
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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