$1$ point

Jenny needs to borrow $$5,500$ for four years. The loan will be repaid in one lump sum at the end of the loan term. Which one of the fo

for Jenny?

$6\mathrm{.}5$ percent interest, compounded annually

$6\mathrm{.}6$ percent simple interest

$6\mathrm{.}5$ percent simple interest

$6\mathrm{.}80$ percent interest, compounded annually

$6\mathrm{.}75$ percent interest, compounded annually

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