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A business loan of 650,000 is to be settled by paying 30,000 monthly in 2 years. If the interest rate is10% converted monthly, how much

A business loan of 650,000 is to be settled by paying 30,000 monthly in 2 years. If the interest rate is10% converted monthly, how much is the outstanding balance after 6 payments?

a. 505,472.56

b. 505,427.65

c. 505,427.56

d. 550,427.65

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