Multiple Choice
Nico makes annual end-of-year payments of $5,043.71 on a four-year loan with an interest rate of 13 percent. The original principal amount was ________.
A) $24,450
B) $15,000
C) $3,100
D) $20,175
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q127: You are considering the purchase of new
Q128: Dorothy borrows $10,000 from the bank. For
Q129: A firm wishes to establish a fund
Q130: Ms. Day needs $20,000 to buy her
Q131: To expand its operation, the International Tools
Q133: Alexis owns stock in a company which
Q134: Find the future value at the end
Q135: Nico establishes a seven-year, 8 percent loan
Q136: What is the rate of return on
Q137: Brian borrows $5,000 from a bank at