The Rent-to-Own Store has a six-year, interest-only loan at 7.6 percent interest. The firm originally borrowed $115,000. How much will the firm pay in total interest over the life of the loan?
A. $32,451.13
B. $53,666.67
C. $47,500.00
D. $69,000.00
E.$52,440.00
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Home » Business » The Rent-to-Own Store has a six-year, interest-only loan at 7.6 percent interest. The firm originally borrowed $115,000. How much will the firm pay in total interest over the life of the loan? A. $32,451.13 B. $53,666.67 C. $47,500.00 D. $69,000.