Multiple Choice
A small business refits its store.The builders charge them $125,000,which will be paid back in monthly installments over three years at 6% APR.The builders will reduce this rate to 5.5% APR if they pay $2500 up front.By approximately how much will this reduce the monthly loan repayments?
A) $104
B) $28
C) $214
D) $77
E) $192
Correct Answer:
Verified
Correct Answer:
Verified
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