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Sagot :
Answer:
$1960.95
$56.88 is paid every month for 8 years
Answer:
$5165.87
Step-by-step explanation:
Total loan payment at the end of 8 years is
= $3500 * (1 + 12%)^8
= $3500 * 1.12^8
= $8665.87
Total interest payment is
= Total payment - Principal
= $8665.87 - $3500
= $5165.87
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