You borrow $2,500 for five years at a rate of 12 percent per annum, compounded annually. What is the lump sum amount due at the end of the 5 years? What is the total amount of interest owed?

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The Answer of You borrow $2,500 for five years at a rate of 12 percent per annum, compounded annually. What is the lump sum amount due at the end of the 5 years? What is the total amount of interest owed?

You Borrow $2,500 for Five Years at a Rate of 12