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A loan carries a simple interest rate of 5 . 2 5 % . The loan was fully repaid by two $ 5 0 0

A loan carries a simple interest rate of 5.25%. The loan was fully repaid by two $5000 payments made 8 and 11 months after the original date of the loan. How much was borrowed at the start?
Multiple Choice
$10,000
$9601.34
$9661.84
$9540.85
$9329.44

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