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QUESTION 2 2 A friend of yours paid $ 6 , 0 7 2 . 9 0 per year for 2 years in order to

QUESTION 22
A friend of yours paid $6,072.90 per year for 2 years in order to repay a loan he got to jumpstart his business. At the time, the interest rate was 14% and compounded annually. How much did he borrow 2 years ago? Identify the number to the nearest hundred.
A. $10,500
B. $11,500
C. $10,000
D. $11,000
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