Question: A small company borrows $55,000 at 4% compounded monthly. The loan is due in 10 years. How much interest will the company pay? Round answer

A small company borrows $55,000 at 4% compounded monthly. The loan

A small company borrows $55,000 at 4% compounded monthly. The loan is due in 10 years. How much interest will the company pay? Round answer to the nearest cent. A. $26,723.39 B. $26,995.80 C. $26,887.51 D. $81,995.80

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