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31 October, 09:33

John takes out a loan for

$

12

,

000

at a simple interest rate of

4.5

%

to be paid back in

36

monthly installments

+2
Answers (1)
  1. 31 October, 11:11
    0
    Step-by-step explanation:

    36 months > 1.14³

    12000*1.14*1.14*1.14 = 12000*1.14³ = 17,778.528$
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