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QUESTION 12 Some time ago, you took a loan that requires you to pay $500 every month. The interest rate when the loan was taken

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QUESTION 12 Some time ago, you took a loan that requires you to pay $500 every month. The interest rate when the loan was taken was 6% APR. The loan has now 40 months to maturity and you still need to make the payment for this month. You just got a big bonus and would like to settle this debt completely. How large is going to be the payoff quote of the loan, just before you make the payment for this month? 18,086.11 16,084.62 18,586.11 15,484.62

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