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Problem 1.5. (5 pts) Find the total amount of interest that would be paid on a $1,000 loan over a 10-year period, if the effective

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Problem 1.5. (5 pts) Find the total amount of interest that would be paid on a $1,000 loan over a 10-year period, if the effective interest rate is 0.09 per annum under the following repayment method: The entire loan plus entire accumulated interest is paid as one lump-sum at the end of the loan term

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