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If you make monthly payments of on a -year loan, your total payments over the life of the loan amount to a. . b. . c. .
To determine the total payments over the year loan with a monthly payment of , first convert the given loan term into a month. Now, since there are months in a year,
Thus, there are months in years. Multiply it by the given monthly payment to get the total payments. It follows:
Therefore, the total payment after years is .
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