Multiple Choice
Suppose you borrowed $30,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years.How much would you still owe at the end of the first year,after you have made the first payment?
A) $19,118.33
B) $22,112.76
C) $22,343.11
D) $23,034.13
E) $20,961.06
Correct Answer:
Verified
Correct Answer:
Verified
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