On January 1,Yumati Electric Borrows $333,333 at an Interest Rate

Multiple Choice

On January 1,Yumati Electric borrows $333,333 at an interest rate of 6% today and will repay this amount by making 16 semiannual payments beginning May 31.What is the approximate amount of the payments that Yumati will need to make?

A) $32,984
B) $32,378
C) $26,537
D) $25,764