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You borrow $25,000 at an interest rate of 4.70% to pay for college tuition. Fixed payments must be made monthly over a 10-year period. How
You borrow $25,000 at an interest rate of 4.70% to pay for college tuition. Fixed payments must be made monthly over a 10-year period. How much in total payments will you make for this loan?
A. $2,615
B. $31,382
C. $39,963
D. $382,874
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