Multiple Choice
Your car loan requires payments of $200 per month for the first year and payments of $400 per month during the second year.The annual interest rate is 12 percent and payments begin in one month.What is the present value of this two-year loan?
A) $6,246.34
B) $6,389.78
C) $6,428.57
D) $6,753.05 PV = $200
Correct Answer:
Verified
Correct Answer:
Verified
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