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If You Borrow $1,700 for 4 Years at 5% Annual

Question 83

Multiple Choice

If you borrow $1,700 for 4 years at 5% annual simple interest, how much must you repay at the end of the 3 years? Round your answer to the nearest dollar. ​


A) $2,975
B) $5,100
C) $1,955
D) $2,125
E) $2,040

Correct Answer:

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