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Suppose You Take Out a Loan for $5,000, at 6

Question 111

Multiple Choice

Suppose you take out a loan for $5,000, at 6% ordinary interest. If the amount of interest is $91.67, what is the time period? (Round to next higher day)


A) 111 days
B) 125 days
C) 112 days
D) 137 days

Correct Answer:

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