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Solve the Problem. -A Small Company Borrows $30,000 at 4% Compounded Monthly. the Compounded

Question 116

Multiple Choice

Solve the problem.
-A small company borrows $30,000 at 4% compounded monthly. The loan is due in 6 years. How Much interest will the company pay?

A) $7995.60
B) $8092.04
C) $8122.26
D) $38,122.26

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