Suppose you take out a loan of $15,000 where interest on the loan accrues at...
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Suppose you take out a loan of $15,000 where interest on the loan accrues at an APR of 8.4% compounded monthly.a. If the loan is to be paid back in 12 years. What will the monthly payment of the loan be?b. What will the total interest on the loan be?
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