Solve the Problem

Multiple Choice

Solve the problem. Use an annual percentage rate table if necessary.
-Jessica used a fixed installment loan from her bank to finance her used car purchase. She borrowed $12,000 and has a 60 monthly payments of $249.10 each. Instead of making her 36th payment, Jessica decides to pay the remaining balance on the loan. What is the total amount due to pay off The balance (use the actuarial method) ?

A) $5613.64
B) $5676.95
C) $5374.78
D) $5926.05