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QUESTION

Dillon took out a 2-year loan for $2375 at a sports-equipment store to be paid back with monthly payments at a 6.6% APR, compounded monthly. If the loan offers no payments for the first 5 months, how

Dillon took out a 2-year loan for $2375 at a sports-equipment store to be paid back with monthly payments at a 6.6% APR, compounded monthly. If the loan offers no payments for the first 5 months, how much will Dillon owe when he begins making payments?

A. $2709.15

B. $2441.03

C. $2375.00

D. $2536.58

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