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A small company borrows 90,000 at 12%compounded monthly.The loan is due in 7 years. How much interest will the company pay?
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A small company borrows 90,000 at 12%compounded monthly.The loan is due in 7 years. How much interest will the company pay?

User Sectornitad
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1 Answer

3 votes
90,000*0.12 =1,080

1,080*7=7,560

90,000+7,560=97,560
User Scott Forsyth
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