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QUESTION 4 Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in three equal annual installments. The interest paid

QUESTION 4 Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in three equal annual installments. The interest paid in the first year is $277.95 $405.00 $352.00 $147.00

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