Interest is accrued but no payments are made

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Reference no: EM131010917

A $10,000 in student loans at 6% simple interest per year is paid back in one lump sum at the end of a 5 year grace period (i.e., interest is accrued but no payments are made). What is the amount of the lump sum payment at the end of year 5?

Reference no: EM131010917

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