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A purchase is financed by five annual payments of $1,000, the first payment due at time of purchase. The effective rate of discount, d is

A purchase is financed by five annual payments of $1,000, the first payment due at time of purchase. The effective rate of discount, d is 10%.

Find the total amount of interest paid.

A. 900

B. 905

C. 910

D. 915

E. 920

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