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Tan Company purchased a large server for $33,000. The company paid 30% of the value as a down-payment and received a loan for the balance
Tan Company purchased a large server for $33,000. The company paid 30% of the value as a down-payment and received a loan for the balance at 8.93% compounded monthly. The loan has a term of 4 years and Tan Company had to make month-end payments until the loan was settled. a. Calculate the size of the month-end payments. $820.11 $574.08 $257.03 $564.32 b. What was the total amount paid to settle the loan? $39,365.28 $11,875.44 $27,555.66 $27,087.36 $820.11 $574.08 $257.03 $564.32 b. What was the total amount paid to settle the loan? $39,365.28 $11,875.44 $27,555.66 $27.087.36 c. Calculate the total amount of interest paid throughout the term of the loan. $4,455.66 $16,265.28 $11,226.56 $3,987.36
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