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WRITE CLEARLY PLEASE ANSWER ALL PARTS A student takes out a college loan of $5000 at an annual percentage rate of 6%, compounded monthly. a.

WRITE CLEARLY PLEASE

ANSWER ALL PARTS

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A student takes out a college loan of $5000 at an annual percentage rate of 6%, compounded monthly. a. If the student makes payments of $1000 per month, how much, to the nearest dollar, does the student owe after 3 months? Don't round until the end. b. After how many months will the loan be paid off

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