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(a) Suppose that your student loan balance is $20,000.00 dol- lars and that the annual percent rate is 7.2% compounded monthly. Suppose also that this

(a) Suppose that your student loan balance is $20,000.00 dol- lars and that the annual percent rate is 7.2% compounded monthly. Suppose also that this rate is fixed and you want to repay the loan in 8 years. How much will your monthly payment be

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