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To pay for his driveway, Troy decides to borrow $4,500 from his friend for 7 years with a simple interest rate of 4.8%. Determine the
To pay for his driveway, Troy decides to borrow $4,500 from his friend for 7 years with a simple interest rate of 4.8%.
Determine the total amount Troy would have to pay his friend on the day of maturity. Round your answer to the nearest cent.
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