Wesson Metals Has an Outstanding Loan That Calls for Equal

question 71

Multiple Choice

Wesson Metals has an outstanding loan that calls for equal annual payments of $9,768.46 over the life of the loan.The original loan amount was $50,000 at an APR of 8.5 percent.How much of the second loan payment is interest?

• A)$3,525.61
• B)$3,780.93
• C)$4,250.00
• D)$5,409.16
• E)$5,987.53

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