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You take a $2,000 add-on loan at 8% simple interest for 3 years. a) Find your monthly payment b) If you pay off the loan

You take a $2,000 add-on loan at 8% simple interest for 3 years.

a) Find your monthly payment

b) If you pay off the loan with 10 payments left, what is the rebate you receive based on the rule of 78s?

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