Multiple Choice
Solve the problem.
-Find the periodic payment of a loan with present value $20,000 and an annual interest rate 6.3% for a term of 3 years, with payments made and interest charged 12 times per year.
A) $1222.32
B) $1100.09
C) $488.93
D) $611.16
Correct Answer:
Verified
Correct Answer:
Verified
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