Multiple Choice
Moe takes out a conventional loan to purchase a car. The interest rate is 8.3% compounded monthly and Moe has eight years to repay the $12,000 he borrowed. What are Moe's monthly payments?
A) $385.07
B) $305.21
C) $186.49
D) $171.48
Correct Answer:
Verified
Correct Answer:
Verified
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