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Mr. Smith borrowed $100.000 for his first house. The bank requires monthly payments for next 30 years. Mr. Smith got a loan rate (APR) of

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Mr. Smith borrowed $100.000 for his first house. The bank requires monthly payments for next 30 years. Mr. Smith got a loan rate (APR) of 4.375%, compounded monthly. How much is his monthly payment? a) $484.65 b) $6,049.18 a $499.29 d) $491.94 e) $277.78 Question 34 (2 points) Dan deposited $15,000 into an account. The account pays an interest rate of 3.5%. What will be Dan's account balance in 15 years if he makes no additional deposits? a) $25,130.23 Ob) $15,669.82 $225.000.00 d) $8,853.36 e) $25,337.51

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