Answer: The interest paid on the loan will be approximately $25,409.6
Explanation: The interest paid on the $100,000 loan at a 4.7% annual interest rate compounded monthly over 5 years will be approximately $25,409.6.
This means that the total amount repaid by ABC company, including the interest, will be approximately $125,409.6.
The interest accrued due to compounding over the 5-year period leads to a significant portion of the total repayment amount.
It's essential for borrowers to be aware of the interest costs when taking out loans to make informed financial decisions.