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Crocuss line of credit had a $1,000 balance at the beginning of the year. On March 13, they borrowed an additional 15,000 and paid off
Crocuss line of credit had a $1,000 balance at the beginning of the year. On March 13, they borrowed an additional 15,000 and paid off the balance on June 18. No other borrowings or payments were made during the year. If interest is accrued monthly and their interest rate was six percent, what was the amount of the payment on June 18 for the outstanding principal and interest?
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