The Rent-to-Own Store has a six-year, interest-only loan at 7.6 percent interest.The firm originally borrowed $115,000.How much will the firm pay in total interest over the life of the loan?
A) $32,451.13
B) $53,666.67
C) $47,500.00
D) $69,000.00
E) $52,440.00
Correct Answer:
Verified
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