Multiple Choice
Kathy borrows $10,000 from the bank. For a four year loan, the bank requires annual end-of-year payments of $3,223.73. The annual interest rate on the loan is
A) 11 percent.
B) 10 percent.
C) 9 percent.
D) 12 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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