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In January 1 , year 1 , Mary borrows $ 3 0 , 0 0 0 at 8 % interest compounded semi - annually. What

In January 1, year 1, Mary borrows $30,000 at 8% interest compounded semi-annually. What is the amount of interest Mary will pay at the end of year
? Round your answer to the nearest dollar.
$7,791
Reason: [$30,000(1.046)]-$30,000=$7,960
$7,960
$2,400
Reason: [$30,000(1.046)]-$30,000=$7,960
$7,200
Reason: [$30,000(1.046)]-$30,000=$7,960
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