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Posted on Aug 07, 2024

assume you take out a $ 2 0 0 0 loan for 3 0 months at 8 . 4 % APR. What is the monthly

assume you take out a $

2000

loan for

30

months at

8.4 %

APR.

What is the monthly payment?

How much of the first months payment is interest?

What percentage of the first months payment is interest?

How much total interest did you pray at the end of the

30

months?

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