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To help pay for culinary school, Donna borrowed money from her credit union. She took out a personal, amortized loan for $52,500 , at an
To help pay for culinary school, Donna borrowed money from her credit union. She took out a personal, amortized loan for $52,500 , at an interest rate of 5.15% , with monthly payments for a term of 20 years.
1.) Find Donna's monthly payment.
2.) If Donna pays the monthly payment each month for the full term, find her total amount to repay the loan. |
3.)If Donna pays the monthly payment each month for the full term, find the total amount of interest she will pay.
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