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Betty took out a loan from the bank today for X. She plans to repay this loan by making payments of $800.00 per month for

Betty took out a loan from the bank today for X. She plans to repay this loan by making payments of $800.00 per month for a certain amount of time. If the interest rate on the loan is 0.31 percent per month, she makes her first $800.00 payment later today, and she makes her final monthly payment of $800.00 in 5 months, then what is X, the amount of the loan?

An amount less than $3,969.00 or an anmount greater than $4,818.00

An amount equal to or greater than $3,969.00 but less than $4,361.00

An amount equal to or greater than $4,361.00 but less than $4,755.00

An amount equal to or greater than $4,755.00 but less than $4,781.00

An amount equal to or greater than $4,781.00 but less than $4,818.

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