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  3. suppose you wish to take out a loan for $15,000 at

Suppose you wish to take out a loan for $15,000 at an annual interest rate...

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Suppose you wish to take out a loan for $15,000 at an annual interest rate of 5.25%, compounded monthly. If you want each payment to be as close as possible to $200.00, how long should the period of the loan be?Choose the correct answer below.10 years9 years8 years7 years

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