You Plan to Purchase a New Car with a Retail

Multiple Choice

You plan to purchase a new car with a retail price of $26,499 after your trade-in and astute negotiations with the dealership sales manager.You have agreed to make 5 ANNUAL payments with an annual interest rate of 3.90%.How large are your equal annual end-of-the-year payments for your new car?

A) $5299.80
B) $5,462.21
C) $5,841.89
D) $5,935.68