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If You Lend $3,500 to a Friend for 19 Months

Question 23

Multiple Choice

If you lend $3,500 to a friend for 19 months at 8% annual simple interest, find the future value of loan. Round your answer to the nearest cent. ​


A) $4,386.67
B) $8,820.00
C) $3,998.75
D) $3,943.33
E) $3,887.92

Correct Answer:

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