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Thor borrowed $10,500 from a bank. The interest rate is 6%, compounded annually and he has 6 years to pay off the loan. How much

Thor borrowed $10,500 from a bank. The interest rate is 6%, compounded annually and he has 6 years to pay off the loan. How much will Thor save if he pays off the loan in 4 years? Your answer may be within 3 cents to account for variations in procedures.

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