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$ Instalment Loan (Part 2 of 2) Cheung purchased a $30,000 watch three years ago using a 8 percent (APR, monthly compounding), 6-year loan. He

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$ Instalment Loan (Part 2 of 2) Cheung purchased a $30,000 watch three years ago using a 8 percent (APR, monthly compounding), 6-year loan. He has decided that he would sell the watch now, if he could get a price that would pay off the balance of his loan. What's the minimum price Cheung would need to receive for his watch? (Answer in numbers only, e.g. 10000.12, no dollar sign required.)

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