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Hailey is considering taking out an 8-year loan with monthly payments of $125 at an APR of 4.7%, compounded monthly, and this equates to
Hailey is considering taking out an 8-year loan with monthly payments of $125 at an APR of 4.7%, compounded monthly, and this equates to a loan of $9985.95. Assuming that Hailey's monthly payment and the APR of the loan remain fixed, which of these is a correct statement? A. If it were a 6-year loan, the amount of the loan that Hailey is considering taking out would be more than $9985.95. B. If it were a 10-year loan, the amount of the loan that Hailey is considering taking out would be more than $9985.95. C. If it were a 12-year loan, the amount of the loan that Hailey is considering taking out would be less than $9985.95. D. If it were a 14-year loan, the amount of the loan that Hailey is
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