Question: Seth, Janice, and Lori each borrow 5000 for five years at a nominalinterest rate of 12%, compounded semiannually. Seth has interest accumulated over the five

 Seth, Janice, and Lori each borrow 5000 for five years at

Seth, Janice, and Lori each borrow 5000 for five years at a nominalinterest rate of 12%, compounded semiannually. Seth has interest accumulated over the five years and pays all the interest and principal in a lump sum at the end of five years. Janice pays interest at the end of every six-month period as it accrues and the principalat the end of five years. Lori repays her loan with 10 level payments at the end of everysix- month period. Calculate the total amount of interest paid on all three loans O a. 8748 O b. 8728 C. 8738 d. 8718 O e. 8758

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