Multiple Choice
Suppose you borrowed $12,000 at a rate of 9% and must repay it in 4 equal installments at the end of each of the next 4 years.How much interest would you have to pay in the first year?
A) $925.97
B) $974.70
C) $1,026.00
D) $1,080.00
Correct Answer:
Verified
Correct Answer:
Verified
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