Solved

You Are Borrowing $5,200 at 7

Question 41

Multiple Choice

You are borrowing $5,200 at 7.8 percent,compounded monthly.The monthly loan payment is $141.88.How many loan payments must you make before the loan is paid in full?


A) 30
B) 36
C) 40
D) 42
E) 48

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q36: Angela borrowed $5,000 for five years at

Q37: Beatrice invests $1,000 in an account that

Q38: For a proposed purchase to be acceptable,the

Q39: You would like to have $50,000 saved

Q40: What is the difference between an ordinary

Q42: Lois is purchasing an annuity that will

Q43: Annuities where the payments occur at the

Q44: You want to purchase an annuity that

Q45: You are buying a car for $7,500,paying

Q46: Assume your employer will contribute $50 a