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The APR of a loan is 6.1%. The customer needs to make 3 payments each year. The loan must be paid off in 13 years.
The APR of a loan is 6.1%. The customer needs to make 3 payments each year. The loan must be paid off in 13 years. Suppose the principal of the loan is $53,783. Find the simple sum of interest payments that the customer makes in the first 7 years?
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