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Aunt Tilly borrows $3,500 trom the bank at 12 percent annually compounded interest to be repaid in four equal annual installments The interest paid

Aunt Tilly borrows $3,500 trom the bank at 12 percent annually compounded interest to be repaid in four equal annual installments The interest paid in the fourth year is Select one a. $1,028.86 O b. S0 O C. $123.46 Od $500.00

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