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Compute the interest expense associated

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Miss Sun Tzi obtained a level principal and interest on the balance loan of $7,541,000. The nominal rate of interest is .09% with a term of 5 years and payments scheduled at the end of each day. Compute the interest expense associated with the 11th period.

A. 184.92

B. 186.92

C. 188.92

D. 190.92

Reference no: EM131090091

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