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Clay Harden borrowed $30,000 from a bank at an interest rate of 6% compounded monthly. The loan will be repaid in 36 equal monthly installments

image text in transcribed Clay Harden borrowed $30,000 from a bank at an interest rate of 6% compounded monthly. The loan will be repaid in 36 equal monthly installments over three years. Immediately after his 20 th payment, Clay desires to pay the remainder of the loan in a single payment. Compute the total amount he must pay

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