Multiple Choice
Suppose that you need $4000 to purchase equipment. If you are applying for a discounted loan at an interest rate of 5% per year for 3 years, how much do you need to borrow to cover the principal?
A) $4000
B) $4600
C) $4705.88
D) $4821.76
Correct Answer:
Verified
Correct Answer:
Verified
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