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It is known that the total interest paid over a 5-year period is $2 081.13. What was the principal amount borrowed at a 6% nominal
It is known that the total interest paid over a 5-year period is $2 081.13. What was the principal amount borrowed at a 6% nominal interest rate compounded quarterly? Show steps A) $3 000 B) $4 000 C) $5 000 D) $6 000 E) $7 000
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