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Claire needs to borrow ?$6000 to pay for NHL season tickets for her family. She borrows from a credit union with48 monthly payments of ?$187.97 each. Suppose the credit union uses the rule of 78 and imposes an early payoff penalty of? 1% of the original finance charge per month of early payment. For? example, if Claire pays the loan off 9 months? early, then the penalty will be? 9% of the original finance charge. Find the least value of k that would result in any savings for Claire.
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