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A student takes out a college loan of $7000 at an annual percentage rate of 5%, compounded monthly. a. If the student makes payments of

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A student takes out a college loan of $7000 at an annual percentage rate of 5%, compounded monthly. a. If the student makes payments of $200 per month, how much, to the nearest dollar, does the student owe after 5 months? Don't round until the end. b. After how many months will the loan be paid off

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