Present and Future Value Tables of $1 at 3% Are

question 68

Multiple Choice

Present and future value tables of $1 at 3% are presented below:

-Rosie's Florist borrows $300,000 to be paid off in six years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment?

• A) $25,750.
• B) $29,761.
• C) $30,139.
• D) $25,500.

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