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A farmer needs to borrow $100,000 to invest in new equipment.The loan will be repaid monthly, at an annual interest rate of 3.5%.The term of

A farmer needs to borrow $100,000 to invest in new equipment.The loan will be repaid monthly, at an annual interest rate of 3.5%.The term of the loan is ten years.What is the total amount the farmer will repay over the life of the loan?

A.$426,877

B.$218,665

C.$118,680

D.$100,000

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