Jennifer wants to take a loan to help pay for college. She will repay the loan, which
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Question:
Jennifer wants to take a loan to help pay for college. She will repay the loan, which calls for interest at 6%, with payments of $3,000 each year for 10 years.
How much can Jennifer borrow if she makes her repayments at the beginning of each year?
a. $22,080.26.
b. $23,405.08
c. $24,109.65.
d. $24,777.97.
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