Multiple Choice
What is the amount of interest and repayment of principal balance in month 2 for a loan of $10,000, paid monthly over five years at a 7 percent APR?
A) Interest = $101.32, Principal repayment = $57.51
B) Interest = $57.52, Principal repayment = $140.49
C) Interest = $157.52, Principal repayment = $40.49
D) Interest = $107.52, Principal repayment = $40.49
Correct Answer:
Verified
Correct Answer:
Verified
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