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At a rate of 4%, you paid $144.00 in interest over a two-year period. What was the original amount of your loan? A. $2,250.00 B. $2,000.00 C. $1,800.00 D. $2,550.00

At a rate of 4%, you paid $144.00 in interest over a two-year period. What was the original amount of your loan? A. $2,250.00 B. $2,000.00 C. $1,800.00 D. $2,550.00
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2 votes
At a rate of 4%, you paid $144.00 in interest over a two-year period. What was the original amount of your loan?

A. $2,250.00
B. $2,000.00
C. $1,800.00
D. $2,550.00

asked
User Leary
by
8.2k points

1 Answer

4 votes
C. $1,800.00
FV=1800*(1+0.04*2)=1944
answered
User Pontus Ullgren
by
8.3k points
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