Texas Foods has a loan that requires one lump sum payment at the end of 12 years in the amount of $389,000.The interest rate is 6.5 percent,compounded monthly.What amount did the firm borrow?
A) $175,209.79
B) $178,695.68
C) $182,706.63
D) $84,613.03
E) $98,461.16 
Correct Answer:
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