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Harold Hill borrowed $15,000 to pay for his child's education at Riverside Community College. Harold must repay the loan at the end of 9 months in...
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Harold Hill borrowed $15,000 to pay for his child's education at Riverside

Community College. Harold must repay the loan at the end of 9 months in one payment with 5 1/2% interest.
a. How much interest must Harold pay? (Do not round intermediate calculation. Round your answer to the nearest cent.)




b. What is the maturity value? (Do not round intermediate calculation. Round your answer to the nearest cent.)

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