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A company currently owes $ 3 5 , 0 0 0 to a bank for a loan it took 4 years and 4 months ago.
A company currently owes $ to a bank for a loan it took years and months ago. The interest rate charged on the loan was compounded monthly.
a What was the original principal of the loan?
$
Round to the nearest cent
b What was the amount of interest charged on the loan?
$
Round to the nearest cent
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