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If You Borrow $20 000 for Four Years at an Interest

Question 35

Multiple Choice

If you borrow $20 000 for four years at an interest rate of 7.23% per annum,with the interest compounding quarterly,how much will you have to pay at the end of the period?


A) $21 485.68
B) $26 442.06
C) $25 784.00
D) $26 638.29

Correct Answer:

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