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with formula method William had a loan of $85,000 and made payments of $3,250 at the end of every month to settle it. If he

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with formula method

William had a loan of $85,000 and made payments of $3,250 at the end of every month to settle it. If he received the loan at 4.12% compounded monthly, what was the balance of the loan at the end of one year? 0 $51,895.77 0 $48,823.95 $88,568.89 $45,741.58

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