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On the day you entered college you borrowed $ 2 5 , 0 0 0 from your local bank. The terms of the loan include
On the day you entered college you borrowed $ from your local bank. The terms of the loan
include an interest rate of percent. The terms stipulate that the principal is due in full one year after
you graduate. Interest is to be paid annually at the end of each year. Assume that you complete college
in four years. How much total interest will you pay on this loan?
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