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Suppose that you just borrowed a 6 year loan from Bank 3610-ETRA. The bank charges an interest rate (annual percentage rate) of 5.5%, with monthly

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Suppose that you just borrowed a 6 year loan from Bank 3610-ETRA. The bank charges an interest rate (annual percentage rate) of 5.5%, with monthly compounding You're required to pay back $325 every month during the following 6 years. Please calculate the value of the loan that you just borrowed from the bank. Multiple Choice $20,555.49 $27,648.86 $18,897.79 $19.658.59 $19.892.41

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