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Mary, a college student, needs to borrow $8000 today for her tuition. She agrees to pay back the loan in a lump sum payment upon

Mary, a college student, needs to borrow $8000 today for her tuition. She agrees to pay back the loan in a lump sum payment upon graduating, 4 years from today. The lender agrees to lending at a fixed 3.85% interest rate during the loan period. What is the total cost of Mary's student loan

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