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please show all work You borrow $500 at 4% annual interest rate, compounded quarterly, and plan to pay back the loan and the interest together
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You borrow $500 at 4% annual interest rate, compounded quarterly, and plan to pay back the loan and the interest together at the end of the fifth year. The correct factor formula to use to calculate this sum is? F=$500(F/P,4%,5) F=$500(F/P,1%,20) F=$500(F/P,4%,20) F=$500(F/P,1%,5)
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