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Suppose you take out a margin loan for $ 6 0 , 0 0 0 . You pay an effective rate of 6 . 0

Suppose you take out a margin loan for $60,000. You pay an effective rate of 6.0 percent. If you repay the loan in 60 days, how much interest will you pay?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
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