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Suppose you take out a margin loan for $60,000. The rate you pay is an effective rate of 8.6 percent. If you repay the loan

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Suppose you take out a margin loan for $60,000. The rate you pay is an effective rate of 8.6 percent. If you repay the loan in six months, how much interest will you pay? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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