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What are the total payback cash flows from the loan

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Question - If customer is granted credit for a $2,000 loan to be repaid in 12 equal monthly installments. The interest is quoted as 10% an add-on rate, what are the total payback cash flows from the loan?

a.   $2,200

b.   $2,100

c.   $2,000

d.   $1.800

e.   Cannot be determined

Reference no: EM132889538

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