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May 23, 2015

Homework Help: High School Math

Posted by Jasson on Thursday, July 9, 2009 at 5:47pm.

I'm helping my little sister in her math homework. I just got stuck in this problem. Can anyone please help us out. I'm guessing it's letter C. Am I correct?

A small company borrows $50,000 at 11% compounded monthly. The loan is due in 4 years. How much interest will the company pay? Round to the nearest cent.

A)$26,776.12
B)$27,175.47
C)$27,479.90
D)$77,479.9

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