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Problem 2 (10 points) You borrow $3600 from the Bank of America. Your plan is to repay the loan in monthly installments over 3 years.

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Problem 2 (10 points) You borrow $3600 from the Bank of America. Your plan is to repay the loan in monthly installments over 3 years. The agreement is to pay 1% of the unpaid balance each month for using the money and $100 each month to cut the amount of the loan. Find the total cost of your loan over 3 years. Show your work

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