A $35 000 loan for a recreational boat is charged 2.3%/a compounded monthly. It is to be paid off with monthly payments over the course of 8 years. How much interest will the loan accrue? a) $4089.60 b) $4948.34  c) $4378.55 d) $3801.08

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Q: $1,250

A: Please refer to the image below

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