Multiple Choice
Suppose you borrowed $15,000 at a rate of 11.8% and must repay it in 5 equal installments at the end of each of the next 5 years.How much interest would you have to pay in the first year?
A) $1,362.90
B) $1,557.60
C) $1,716.90
D) $1,770.00
E) $1,893.90
Correct Answer:
Verified
Correct Answer:
Verified
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