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Posted on Aug 01, 2024

An individual borrows 1 5 , 0 0 0 to be repaid in 1 0 years with monthly payments at the end of each month.

An individual borrows

15, 000

to be repaid in

10

years with monthly payments at the end of each month. The initial interest rate applied to the loan is

3 %

.

.

effective.

(

)

marks

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