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Solve the Problem. -A Woman Borrowed $20,000 at 8% Interest Compounded Annually. If

Question 59

Multiple Choice

Solve the problem.
-A woman borrowed $20,000 at 8% interest compounded annually. If the loan was paid off in one lump sum at the end of 4 years, how much did she pay?


A) $21,600.00
B) $27,209.78
C) $7209.78
D) $26,400.00

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