Multiple Choice
You borrow $20,000 to buy a boat.The loan is to be paid off in monthly installments over one year at 18% interest annually.The first payment is due one month from today.What is the amount of each monthly payment?
A) $1,667.
B) $1,511.
C) $1,834.
D) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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