Multiple Choice
On January 1, Pablo borrows $5,000 with a fixed interest rate on the loan of 10% and a loan term of 2 years. He will be making monthly payments of $230.72. How much of Pablo's second loan payment would be interest charged?
A) $41.67.
B) $40.09.
C) $38.50.
D) $36.90.
Correct Answer:
Verified
Correct Answer:
Verified
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