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OpenStudy (anonymous):
Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is:
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OpenStudy (anonymous):
88800$=60000$+8(3600)$ interest for 1 year:3600$
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