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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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