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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, or 180 days, how much interest will you pay? Note: Do not round intermediate calculations. Round your answer to 2 decimal places

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