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Mathematics, 26.02.2021 03:20 les6965

Mike is buying a car that costs $21,000. The bank loans him the money using simple interest at a rate of 5.75% annually. He doesn't touch the account for 30
months and then starts to pay off the loan. He wants to pay off the Interest first
and takes 6 months to pay it off. How much would he pay back each month to pay
off the interest? Show your work.

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