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Hi, I've also got this one that I can't seem to understand how to apply the coreect formula, if you could please explain, that would
Hi, I've also got this one that I can't seem to understand how to apply the coreect formula, if you could please explain, that would be perfect. Thanks!
Robert borrows $10,500 from a bank at 11 percent annually compounded interest to be repaid in six equal annual installments. The interest paid in the second year is
A. $1,155.
B. $2,482.
C. $882.
D. $1,009.
E. $1,472.
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