Sunlight Growers borrows $250,000 from a bank at a 4% annual interest rate. The loan is due

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Sunlight Growers borrows $250,000 from a bank at a 4% annual interest rate. The loan is due in three months. At the end of the three months, the company pays the amount due in full. How much did the company remit to the bank?
A. $250,000
B. $10,000
C. $252,500
D. $2,500

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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