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1. Goldstein Corporation obtained a $5,000 loan from a bank on April 1. If the bank charges 8% interest annually, how much interest will be

1. Goldstein Corporation obtained a $5,000 loan from a bank on April 1. If the bank charges 8% interest annually, how much interest will be accrued at December 31?

a. $400

b. $300

c. $275

d. $250

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