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Chad paid off his student loan in 5 years by making payments of $500 at the beginning of every month. The interest rate on his

Chad paid off his student loan in 5 years by making payments of $500 at the beginning of every month. The interest rate on his loan was 7.20% compounded monthly.

a. Calculate the size of the original loan.

Round to the nearest cent

b. Calculate the amount of interest paid on the loan.

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