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Sheridan Service has a line of credit loan with the bank. The initial loan balance was $ 7 0 0 0 . 0 0 .
Sheridan Service has a line of credit loan with the bank. The initial loan balance was $ Payments of $ and $ were made after four months and nine months respectively. At the end of one year, Sheridan Service borrowed an additional $ Eight months later, the line of credit loan was converted into a collateral mortgage loan. What was the amount of the mortgage loan if the line of credit interest was compounded monthly?
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