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Kira borrowed money from her credit union to invest in rare coins. She took out a personal, amortized loan for $24,000 , at an interest
Kira borrowed money from her credit union to invest in rare coins. She took out a personal, amortized loan for $24,000 , at an interest rate of 7.7%, with monthly payments for a term of 2 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas.
(a) | Find Kira's monthly payment. |
$ | |
(b) | If Kira pays the monthly payment each month for the full term, find her total amount to repay the loan. |
$ | |
(c) | If Kira pays the monthly payment each month for the full term, find the total amount of interest she will pay. |
$ |
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