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QUESTION 5 - 1 POINT Samantha is looking to determine the amount of interest that she will pay on her 4 . 7 % ,

QUESTION

5 - 1

POINT

Samantha is looking to determine the amount of interest that she will pay on her

4.7 %,

40, 000

loan over its

15 -

year term. The loan compounds the interest monthly. Calculate the total amount of interest Samantha will pay, rounding to the nearest cent.

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