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How much total interest will be paid at the end of the year

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Problem 1: Rublin Company applies for a one-year, P1 million loan from RY Bank. The term of the loan requires 12% per annum interest, compounded semi-monthly and will be paid together with the principal at the end of the year. How much total interest will be paid at the end of the year?

Option 1: 127,160

Option 2: 136036

Option 3: 132,796

Option 4: 137,870

Reference no: EM132735345

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