We calculate the free energy, entropy and pressure of the Quark Gluon Plasma (QGP) at finite temperature and density with a given fraction of spin-up and spin-down quarks using a MIT bag model with corrections up to ${cal O} (g^4 ln g^2)$. The expressions for the specific heat and the spin susceptibility are derived in terms of Fermi momentum and temperature. The effects of interaction between the quarks on the properties of the QGP phase are also investigated. Within our phenomenological model, we estimate the transition temperature $T_c$ by constructing the phase boundary between the hadronic phase and the QGP phase. Finally, we compute the equation of state of the QGP and its dependence on the temperature and the density.
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