Solve the Problem Using the Loan Payoff Table or an Amortization

question 56

Multiple Choice

Solve the problem using the loan payoff table or an amortization table.
-If you borrowed $5,738,447.10 at 9% interest paid monthly for 3 years, what is the amount of each payment?

• A)$185,179.69
• B)$182,482.62
• C)$159,815.75
• D)$179,842.93

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Ethics Audit

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