Rueben Has a Finance Plan with the Furniture Store Where

question 65

Multiple Choice

Rueben has a finance plan with the furniture store where the $4,770 he spent accrues finance charges at an annual interest rate of 9.3% compounded monthly for 4 years before he starts to make payments. What will be the balance on the account when he begins making payments?

• A) $6,909.63
• B) $6,909.72
• C) $6,909.60
• D) $6,909.69
• E) $6,909.66