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Gil borrows $8,000 for college expenses. He will pay a total of $10,289 after 6 years. Gil says the interest rate is at least 5%. Is he correct?
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Gil borrows $8,000 for college expenses. He will pay a total of $10,289 after 6 years. Gil says the interest rate is at least 5%. Is he correct?

User David Baucum
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No, the interest rate will be 4%
Gil borrows $8,000 for college expenses. He will pay a total of $10,289 after 6 years-example-1
User ITiger
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