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What amount was owed on the loan after three years

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Payments of $1800 and $2400 were made on a $10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semiannually for the first two years and 10.74% compounded monthly thereafter. What amount was owed on the loan after three years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM133076479

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