Multiple Choice
You have borrowed $130,000 to buy a new motor home. Your loan is to be repaid over 15 years at 8% compounded monthly Calculate the principal paid to the bank in month 2 of the loan.
A) $242.67
B) $378.19
C) $413.61
D) $581.25
Correct Answer:
Verified
Correct Answer:
Verified
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