Use a Calculator to Evaluate the Amortization Formula for the Values

question 117

Multiple Choice

Use a calculator to evaluate the amortization formula for the values of the variables P = $25,000, r = 8%, n = 12, and t = 15 years. ​ ​

• A) $238.91
• B) $166.67
• C) $236.91
• D) $234.91
• E) $251.23