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  3. 4. in aug. 2007, irene engels borrowed $50,000, an

4. In Aug. 2007, Irene Engels borrowed $50,000, and she borrowed another $50,000 in Aug....

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4. In Aug. 2007, Irene Engels borrowed $50,000, and she borrowed another $50,000 in Aug. 2008, for Education. Her student loan has an annual interest rate of 2% compounded monthly. Irene didn't make ny payments on her student loan until she started a lucrative job in Sep. 2009, when she started to make a payment of $1,000 at the end of every month. Now bonus time is coming near. For Jan. 2010, she plans to make another $1,000 payment (her 5th) and also apply her bonus to the loan. How big must her bonus be so that she will have completely paid off the loan at the end of this Jan

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