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in a certain financing arrangement the sum of $ 1 0 0 , 0 0 0 is loaned at 1 2 percent compounded monthly as

in a certain financing arrangement the sum of $100,000 is loaned at 12 percent compounded monthly as though it were to be paid off in 25 years. at the end of 5 years the agreement calls for the borrower to pay back the unpaid balance at that time

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