Multiple Choice
Suppose you borrowed $12,000 at an annual rate of 6 percent interest to buy a car and wish to repay it in five equal payments at the end of each of the next five years.Which of the following is the closest to the amount of each of these payments?
A) $2,364
B) $2,849
C) $2,544
D) $2,436
Correct Answer:
Verified
Correct Answer:
Verified
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