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John got a $ 1 5 , 0 0 0 loan at the bank. He must repay the loan in annual principal payments of $

John got a $15,000 loan at the bank. He must repay the loan in annual principal payments of $1,875 at the end of each year for the next 8 years. In addition to the principal payments, John must pay 15% interest on the total unpaid balance of the loan each year. How much will he have to pay (principal and interest) at the end of the fifth year?

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