You borrow $20 000 to be repaid in a lump sum five years from now.The interest rate is 7.2% per annum (nominal),payable quarterly.How much interest will you pay over the term of the loan?
A)$4519.82
B)$8 574.96
C)$7 200.00
D)$3 993.09

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The Answer of You borrow $20 000 to be repaid in a lump sum five years from now.The interest rate is 7.2% per annum (nominal),payable quarterly.How much interest will you pay over the term of the loan?
A)$4519.82
B)$8 574.96
C)$7 200.00
D)$3 993.09

You Borrow $20 000 to Be Repaid in a Lump