Multiple Choice
Suppose you borrowed $80,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years.How much would you still owe at the end of the first year,after you have made the first payment?
A) $66,338.29
B) $68,795.27
C) $63,267.08
D) $61,424.35
E) $74,323.46
Correct Answer:
Verified
Correct Answer:
Verified
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