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What is the amount jack needs to pay linda

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Question - Linda lent Jack $8500 at an annual interest rate of 8% compounded monthly, if the effective annual rate is 8.30%, what is the amount Jack needs to pay Linda at the end of the three years?

a) $10,797.01

b) $10,293.98

c) $9,987.80

d) $10,707.70

Reference no: EM132621745

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