Solve the Problem. -Find the Periodic Payment of a Loan with Present Value

question 153

Multiple Choice

Solve the problem.
-Find the periodic payment of a loan with present value $161,000 and an annual interest rate 5% for a term of 24 years, with payments made and interest charged 12 times per year.

• A) $961.00
• B) $1729.81
• C) $1922.01
• D) $768.80

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