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Edward took out a loan of $2,753 today at a monthly interest rate of 4%. How much interest will accrue after 6 years on his

Edward took out a loan of $2,753 today at a monthly interest rate of 4%. How much interest will accrue after 6 years on his loan? Round to the nearest whole number.

Hint: 1) note that the compounding frequency is monthly; 2) note that you are asked to solve for interest amount only.

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