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Use the Interest Tables Contained at the End of the Textbook

Question 171

Short Answer

Use the interest tables contained at the end of the textbook to do the following exercises. ABC Business obtains a 5-year $ 75,000 loan bearing an 8% interest charge from a commercial bank.
-The total amount of interest and principal paid over the five-year period is $_______________.

Correct Answer:

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$ 93,920
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