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Amanda Borrowed $1,500, $3,500 and $5,000 at the Beginning of Each

Question 187

Multiple Choice

Amanda borrowed $1,500, $3,500 and $5,000 at the beginning of each year. The rate of interest was at 4.8% compounded monthly. Using the financial functions on the calculator, determine the value that must be repaid at the end of year 3.


A) $10,829.10.
B) $11,034.67
C) $11,464.22
D) $11,829.67
E) $12,318.54

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