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you borrow on the new loan would be used to pay off the balance on the original loan.) The administrative cost of taking out the

you borrow on the new loan would be used to pay off the balance on the original loan.) The administrative cost of taking out the second loan would be $2000. Use the information to complete parts (a) through (e) below. a. What are the monthly payments on the original loan? (Round to the nearest cent as needed.)

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