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Liam had an extension built onto his home. He financed it for 48 months with a loan at 5.7% APR. His monthly payments were $700.

Liam had an extension built onto his home. He financed it for 48 months with a loan at

5.7%

APR. His monthly payments were

$700.

How much was the loan amount for this extension?

A.

$29,981

B.

$41,974

C.

$35,978

D.

47970

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