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Lily owes $52000 in student loans for college. If the loan will be repaid in 5.5 years and the interest rate charged is 6.75%, then how much will she pay altogether?
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Lily owes $52000 in student loans for college. If the loan will be repaid in 5.5 years and the interest rate charged is 6.75%, then how much will she pay altogether?

User Emperor XLII
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An = P(1 + r)^n
An = 52000(1 + 6.75/100)^5.5 = 52000(1.0675)^5.5 = $74,477.78
User Hoggar
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