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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

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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