Multiple Choice
Suppose you borrowed $14,000 at a rate of 10.0% and must repay it in 5 equal installments at the end of each of the next 5 years.How much interest would you have to pay in the first year?
A) $1,200.33
B) $1,263.50
C) $1,330.00
D) $1,400.00
E) $1,470.00
Correct Answer:
Verified
Correct Answer:
Verified
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