Question: Clay Harden borrowed $ 3 9 comma 0 0 0 3 9 , 0 0 0 from a bank at an interest rate of 6

Clay Harden borrowed
$39 comma 00039,000
from a bank at an interest rate of
66%
compounded monthly. The loan will be repaid in
4848
equal monthly installments over
fourfour
years. Immediately after his
2121th
payment, Clay desires to pay the remainder of the loan in a single payment. Compute the total amount he must pay.

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