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If you borrow $80 000 for 120 days with simple interest of 5% per annum, what is the total amount paid on the loan (to

  1. If you borrow $80 000 for 120 days with simple interest of 5% per annum, what is the total amount paid on the loan (to the nearest cent)?

    $84,000

    $81,315.07

    $1,315.07

    None of the given answers.

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