Multiple Choice
You're ready to make the last of four equal, annual payments on a $1,000 loan with a 10 percent interest rate.If the amount of the payment is $315.47, how much of that payment is accrued interest?
A) $28.68
B) $31.55
C) $100.00
D) $315.47
Correct Answer:
Verified
Correct Answer:
Verified
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