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Suppose that the initial loan is $16,000 and the interest rate is 0.9% per month. Interest due is paid at end of each month. $8,000

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Suppose that the initial loan is $16,000 and the interest rate is 0.9% per month. Interest due is paid at end of each month. $8,000 of the original unpaid balance is to be repaid at the end of months two and four only. How much total interest would have been paid by the end of month four? The total interest to be paid by the end of month four is $

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