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You have just obtained a 5-year pure discount loan in the amount of $75,000 at 6.28 percent interest, compounded monthly. What total amount will you
You have just obtained a 5-year pure discount loan in the amount of $75,000 at 6.28 percent interest, compounded monthly. What total amount will you have to repay?
Multiple Choice
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$105,260.13
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$102,582.70
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$84,219.16
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$87,370.00
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$96,100.84
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