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You borrow $6000 to help pay your college expenses. You agree to repay the loan at the end of 7 years at 8% interest, compounded

You borrow $6000 to help pay your college expenses. You agree to repay the loan at the end of 7 years at 8% interest, compounded monthly. (Round your answers to two decimal places.)

(a) What is the maturity value of the loan?

(b) How much interest are you paying on the loan?

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