Multiple Choice
A few years after graduating from college,you decide to get an MBA.This endeavor sets you back $100,000 in loans.Luckily,you have the option to consolidate these loans at 5%.You opt for a 30-year payback period with monthly installments due at the end of each month.What is the monthly payment on the consolidated loan?
A) $536.82
B) $542.10
C) $544.86
D) $3,552.94
Correct Answer:
Verified
Correct Answer:
Verified
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