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Janet took out a loan of $50,000 from Bank of America at 8 percent on March 19, 2006 which is due on July 8, 2006. Using exact interest, the amount of Janet's interest cost is: (Points : 1)

$5,018.44
$2,561.44
$5,261.44
$5,216.44
None of these

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2561.44

5216.44

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