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What is the total interest earned in three years

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Reference no: EM132992531

Problem 1: A company borrowed P100,000 today to be repaid after 3 years at a market interest rate of 12% pa compounded monthly. What is the total interest earned in 3 years?

a. P43,076.88
b. P404,928.00
c. P46,410.55
d. P40,400.66

Reference no: EM132992531

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