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Civil Engineering
A company wants to borrow $600,000 for three years at an interest rate of 6%, to finance a project.  If the borrowed money and interest are paid back in one amount at the end of three years, what will be the total amount of the repayment? Group of answer choices $708,000.00 $114,609.60 $108,000.00 $714,609.60

A company wants to borrow $600,000 for three years at an interest rate of 6%, to finance a project.  If the borrowed money and interest are paid back in one amount at the end of three years, what will be the total amount of the repayment? Group of answer choices $708,000.00 $114,609.60 $108,000.00 $714,609.60

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN:9781305084766
Author:Saeed Moaveni
Publisher:Saeed Moaveni
Chapter20: Engineering Economics
Section: Chapter Questions
Problem 21P
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A company wants to borrow $600,000 for three years at an interest rate of 6%, to finance a project.  If the borrowed money and interest are paid back in one amount at the end of three years, what will be the total amount of the repayment?

Group of answer choices
$708,000.00
$114,609.60
$108,000.00
$714,609.60
 
 
 
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