What is the total amount owed at the end

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An original loan of $2000 was made at 6 percent simple interest per year for 4 years. At the end of this time, no interest had been paid and the loan was extended for 6 more years at a new, effective, compound-interest rate of 8 percent per year. What is the total amount owed at the end of the 10 years if no intermediate payments are made?

Reference no: EM131061632

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