Multiple Choice
Doris borrowed $5000 from a finance company at an interest of 8% quarterly. The loan is to be repaid in 3 equal payments, annually. What is the amount of the equal payment?
A) $1948.69
B) $1666.67
C) $1419.51
D) $1787.42
E) $1856.77
Correct Answer:
Verified
Correct Answer:
Verified
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