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Annuities and mortgages MAP 4C1 Unit Seven 2. Owen has 13 monthly payments of $305.75 left on his student loan. Interest on the loan is

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MAP 4C1 Unit Seven 2. Owen has 13 monthly payments of $305.75 left on his student loan. Interest on the loan is at 9%, compounded monthly a) If the bank will let him pay off his loan today, how much will he have to pay? [3] b) How much interest will Easton be avoiding if he pays the loan off today? [2]

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