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You borrow $1500 with a simple interest balloon payment loan. The annual interest rate is 10.75% (a) The loan is paid off in 18 month,

You borrow $1500 with a simple interest balloon payment loan. The annual interest rate is 10.75%

(a) The loan is paid off in 18 month, find the total interest paid

(b) the payoff amount FV = A

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