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Find what was the amount of interest charged on the loan

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A company currently owes $30,000 to a bank for a loan it took 3 years and 3 months ago. The interest rate charged on the loan was 3.75% compounded monthly.

Problem a. What was the original principal of the loan?

Problem b. What was the amount of interest charged on the loan?

Reference no: EM132823315

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