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Sally took out aloan for $ 2 0 , 0 0 0 . The loan was governed by compound interest at a rate of 3

Sally took out aloan for $

20, 000 .

The loan was governed by compound interest at a rate of

3 % .

She madea payment of $

2500

one year later and a payment of $

3, 000

three years after she took out the loan. What is the outstanding balance immediately after the second payment?

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