Question: Suppose that Eric borrows $ 2 0 , 0 0 0 at 5 % per year to purchase equipment for his business. Complete the following

Suppose that Eric borrows $20,000 at 5% per year to purchase equipment for his business.
Complete the following table by calculating the amounts that Eric will have to repay in full if he borrows for three different periods (months), assuming compound interest.
Period (months)
Amount(Dollars)
25
35
40

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