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c. $89. 12 is incorrect Imani applied for a $5000 loan with an annual interest rate of 3% to be repaid monthly for a year.

c. $89. 12 is incorrect
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Imani applied for a $5000 loan with an annual interest rate of 3% to be repaid monthly for a year. The loan terms include a one-time processing fee of 0.1% of the loan amount and a quarterly administrative charge of 0.05% of the loan amount. What is the total cost of financing? $96.62 $81.62 $89.12 $94.72

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