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Posted on Aug 05, 2024

You borrow $ 6 0 0 0 to help pay your college expenses. You agree to repay the loan at the end of 6 years

You borrow $

6000

to help pay your college expenses. You agree to repay the loan at the end of

6

years at

12 %

interest, compounded monthly.

(

Round your answers to two decimal places.

)

(

)

What is the maturity value of the loan?

(

)

How much interest are you paying on the loan?

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