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A student has received a loan of $30,000 from his aunt in order to finance his 4-year college program. The terms are that the student

A student has received a loan of $30,000 from his aunt in order to finance his 4-year college program. The terms are that the student will repay his aunt in full at the end of 8 years with simple interest @ 4% per year.

You are required to Calculate simple interest and total amount the student will have to pay at the end of 8 years?

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