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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 monthly.

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 monthly. A) $430,00 B) $533.88 C) $633.00 D) $700.88 E) $330.88 A B D E

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