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Two years ago, you took out a 3-year, $60,000 interest-only loan. The interest rate on the loan is 7.5 percent with annual payments. How much

Two years ago, you took out a 3-year, $60,000 interest-only loan. The interest rate on the loan is 7.5 percent with annual payments. How much will the loan payment be that is due today?

A.$3,000

B.$0

C.$4,500

D.$1,500

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