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How much interest is paid in total on a 1-year loan for $5000? The interest rate is 12% compounded monthly and the payments are made

How much interest is paid in total on a 1-year loan for $5000? The interest rate is 12% compounded monthly and the payments are made at the end of each quarter.

Select one:

a. $291.80

b. $384.41

c. $286.47

d. $511.24

e. $125.36

Need an answer ASAP.. thank you

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