AdriAnne and Anna's Auto Repair Wants to Add a New

question 67

Multiple Choice

AdriAnne and Anna's Auto Repair wants to add a new service bay. How much can they borrow at an annual rate of 5%, compounded quarterly, if the desired quarterly payment is $6,100? Assume a loan period of 4.5 years. Round your answer to the nearest cent. ​

• A)$107,355.83
• B)$67,583.80
• C)$97,780.25
• D)$87,963.78
• E)$77,900.37

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Definitions:

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The network of governmental and commercial involvement in the research, development, and production of military equipment and technology.

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