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Mohammad borrows $3,500 from the bank at 15 percent annually compounded interest to be repaid in...

Mohammad borrows $3,500 from the bank at 15 percent annually compounded interest to be repaid in four equal annual installments. The interest paid in the Third year is?

Select one:

a. $298.95

b. $233.69

c. $255.16

d. $276.91

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