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You Borrow $3,500 and Will Pay Back the Entire Amount

Question 15

Multiple Choice

You borrow $3,500 and will pay back the entire amount in 5 years. You are charged 9% interest per year. How much interest do you pay on this loan?

A) $1,885.18
B) $1,907.35
C) $1,959.02
D) $2,106.81

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