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Purple Haze Graphics borrowed $80,000 to pay for a new printer. The loan is for 6 years at an interest rate of 7.45% (annual) and

Purple Haze Graphics borrowed $80,000 to pay for a new printer. The loan is for 6 years at an interest rate of 7.45% (annual) and requires 6 equal end-of-year payments that include both principal and interest on the outstanding balance. How much in interest will be paid over the life of the loan?

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