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A construction company takes a loan of $2.114,000 to cover the cost of a new grader if the interest rate is 3% APR and payments

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A construction company takes a loan of $2.114,000 to cover the cost of a new grader if the interest rate is 3% APR and payments are made monthly for five years what percentage of the outstanding principal does the company pay in interest each month OA 040 8. 0.50% OC 067% OD 667

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