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Today, you have borrowed $12,000.00 at an interest rate of 8% compounded monthly. The loan is to be repaid by making monthly payments of $600,

Today, you have borrowed $12,000.00 at an interest rate of 8% compounded monthly. The loan is to be repaid by making monthly payments of $600, starting eight years from now. a) How many full payments of $600 will be required? b) What will be the amount of the smaller final payment made one month after the last $600 payment

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