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Joe negotiates an 8 year loan which requires him to pay 1200 per month for the first 4 years and 1500 per month for the

Joe negotiates an 8 year loan which requires him to pay 1200 per month for the first 4 years and 1500 per month for the remaining years. The interest rate is 13%, convertible monthly, and the first payment is due in one month. What is the amount of the loan? (round answer to nearest .01)

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