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Aunt Bertha borrows $19,500 from the bank at 8 percent annually compounded interest to be repaid in 10 equal annual installments. The interest paid in
Aunt Bertha borrows $19,500 from the bank at 8 percent annually compounded interest to be repaid in 10 equal annual installments. The interest paid in the third year is: a) $1947.10, b) $1336.00, c) $2906.11, d) $1560.14 PLEASE SHOW CALCULATIONS ALONG WITH ANSWER.
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