Your Mortgage Requires That You Pay $12,000 at the End

Multiple Choice

Your mortgage requires that you pay $12,000 at the end of each of the next 30 years.If the annual interest rate is 12%,then you must have borrowed approximately:

A) $117,660.
B) $96,660.
C) $78,660.
D) $63,660.
E) $133,660.