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Hui Tan has borrowed $25,000 from his local bank. The loan will cost him 12% per year for the first 7 years and 4% per

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Hui Tan has borrowed $25,000 from his local bank. The loan will cost him 12% per year for the first 7 years and 4% per year for the next 15 years. The interest is compounded annually. At the end of the 22 years, the amount he will have to repay is closest to O a. $99,532.81 O b. $50,145.31 O $100,290.62 Od. $302,507.75 Oe. $135,913.51 Previous page 22 23 24 25 26 Next page Finist

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