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Karen Wilson thinks that she needs to borrow $7,600 for 2 years. She doesnt have a very good credit rating, so most finance companies want
Karen Wilson thinks that she needs to borrow $7,600 for 2 years. She doesnt have a very good credit rating, so most finance companies want to charge her a high interest rate. She finally finds a lender that will loan her the money at 12% compounded monthly. How much interest will Karen have to pay to this particular lender?
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