Abc borrowed 236000 at an annual interest rate of 11, Ask an Expert

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ABC borrowed $236,000 at an annual interest rate of 11 percent. The terms of the loan required ABC to make quarterly payments and to completely amortize the loan over five years. Assuming ABC made the payments as agreed, how much total interest did ABC pay over the life of the loan? Please show all work.

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Financial Management, Finance

Category:- Financial Management
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