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11. Linda's grandmother loaned her $57,000 to help her start an Internet specialty clothing business for tall women. They agreed that Linda will pay the
11. Linda's grandmother loaned her $57,000 to help her start an Internet specialty clothing business for tall women. They agreed that Linda will pay the entire amount, together with interest at 3.75% compounded annually, in 6 years. Find the amount Linda will need to repay the loan. A. $69,391.95 B. $59,137.50 C. $69,825 D. $71,089.18 - 12. Linda's grandmother loaned her $57,000, interest-free, to help her start an Internet specialty clothing business for tall women. Linda must repay the $57,000, in one lump sum, in 6 years. How much could Linda deposit at the end of each month into a savings plan earning 4.2% compounded monthly so she will have the $57,000 in 6 years? A. $695.05 B. $44,322.45 C. $8,550.33 D. $697.48
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