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What the total amount of interest to be paid over the life

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Question - Blue Spruce Corp. borrowed $1220000 from Central Bank on May 31, 2016. The 3-year, 7% note required annual payments of $464883 beginning May 31, 2017. What the total amount of interest to be paid over the life of the loan?

a. $256200.

b. $340249.

c. $174649.

d. $85400.

Reference no: EM133043808

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