Multiple Choice
A loan of $17,200 at 9% compounded monthly is to be paid off by equal payments to be made at the end of every month for three years. What is the size of the monthly payment?
A) $561.48
B) $679.49
C) $606.78
D) $477.78
E) $546.96
Correct Answer:
Verified
Correct Answer:
Verified
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