Suppose You Borrowed $12,000 at a Rate of 9% and Must

question 108

Multiple Choice

Suppose you borrowed $12,000 at a rate of 9% and must repay it in 4 equal installments at the end of each of the next 4 years.How much would your payments be?

• A)$3,704.02
• B)$3,889.23
• C)$4,083.69
• D)$4,287.87

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