CharlieJP8524 CharlieJP8524

15-04-2024
Business

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Charles Wilson borrowed $31,700 on July 1, 2022. This amount plus accrued interest at 5% compounded annually is to be repaid on July 1,2027. How much will Charles have to repay on July 1, 2027?
a) $39,092.50
b) $40,604.25
c) $50,000
d) $43,415

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