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Suppose you take out a 6-year loan at an interest rate of 7.5 percent convertible monthly. You will make monthly payments, with your first payment

Suppose you take out a 6-year loan at an interest rate of 7.5 percent convertible monthly. You will make monthly payments, with your first payment coming in one month. Your first payment will be 1300 dollars, and your payments will increase by 25 dollars each succeeding month.

How much interest is paid with the 15th payment?

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