Question: A small business borrows $65,000 for expansion at 6% compounded monthly. The loan is due in 5 years. How much interest will the business pay?

A small business borrows $65,000 for expansion at 6% compounded monthly.

A small business borrows $65,000 for expansion at 6% compounded monthly. The loan is due in 5 years. How much interest will the business pay? The business will pay $()in interest. (Round to the nearest cent.)

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