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19-03-2024
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Suppose you take a loan of $50,000 for a car for 5 years. The interest rate is 5% percent, compounded monthly. What is the principal repaid in the 5th year? Enter your answer rounded off to two de:
a) $9,621.18
b) $9,888.74
c) $10,168.95
d) $10,463.04

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