Multiple Choice
You just took out a $12,000 loan for your small business.The loan has a four year term and repayment is in the form of four equal end-of-year payments.The interest rate on the loan is 11.5%.What are your annual loan payments?
A) $3,909.29
B) $3,287.78
C) $3,144.83
D) $3,246.84
E) $3,867.92
Correct Answer:
Verified
Correct Answer:
Verified
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