Multiple Choice
You borrow $42,500 over a nine year term.Your bank charges an annual rate of 10%.If the loan is repayable in equal end-of-period,annual payments,then what is the loan payment?
A) $7,379.72
B) $7,966.37
C) $6,916.68
D) $6,641.75
E) $8,117.70
Correct Answer:
Verified
Correct Answer:
Verified
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