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Question 3 1 pts This is the same information from the previous question: A company...

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Accounting

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Question 3 1 pts This is the same information from the previous question: A company borrowed a certain amount of money at the beginning of the current year. The loan requires one payment, 2 years from the date of the original borrowing, which will include repayment of the initial amount plus all accrued interest. The interest rate stated in the loan document is 12%. Interest is compounded monthly. Is the amount that the company borrowed higher or lower than the amount that will be repaid? Write either "higher" or "lower" No CAPS

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