Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in three equal annual installments. The interest paid in the third year is ________.
A) $277.95
B) $405.00
C) $352.00
D) $147.00

Question

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The Answer of Rita borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in three equal annual installments. The interest paid in the third year is ________.
A) $277.95
B) $405.00
C) $352.00
D) $147.00

Rita Borrows $4,500 from the Bank at 9 Percent Annually