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Shoree Has Taken Out a Loan of $3,000 At 912%9 \frac { 1 } { 2 } \%

Question 21

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Shoree has taken out a loan of $3,000 at 912%9 \frac { 1 } { 2 } \% interest, for 60 months. Find the maturity value on Shoree's loan using the formula MV = PP (1 + RT).

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