Multiple Choice
Suppose that you need $3000 to purchase a car. If you are applying for a discounted loan at an interest rate of 5% per year for two years, how much do you need to borrow to cover the principal?
A) $3000
B) $3111.11
C) $3222.22
D) $3333.33
Correct Answer:
Verified
Correct Answer:
Verified
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