Multiple Choice
A friend of yours borrows $19,500 from the bank at 8% annually to be repaid in 10 equal annual end-of-year installments. The interest paid on this loan in year three is
A) $1,336.01.
B) $1,560.00.
C) $2,906.11.
D) $1,947.10.
Correct Answer:
Verified
Correct Answer:
Verified
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