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Supposed that in the loan described, the borrower paid off the loan after the time indicated. Calculate the amount needed to pay off the loan.

Supposed that in the loan described, the borrower paid off the loan after the time indicated. Calculate the amount needed to pay off the loan.

$4900; 9% compounded monthly; 24 monthly payments; paid off after 12 months.

A) $1662.50 B) $2559.82 C) $1835.77 D) $1745.46

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