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5 votes
12. Marvin is paying off a $6,800 loan that he

took out for his new business. The loan has a
5.2% interest rate and Marvin will pay it off in 5
years by making monthly payments of $128.95.
Find the total cost of repayment and the interes
Marvin will pay on his loan.

1 Answer

5 votes

Monthly Payments

$ 128.95

Total Principal Paid

$6,800

Total Interest Paid

$936.90

User Nawara
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