Corey Buys 10 Tufflift 4-Post,4

question 83

Multiple Choice

Corey buys 10 Tufflift 4-post,4.5-ton car hoists for his parking garage at a total cost of $410,000.He finances this with a five-year loan at 6.2% APR with monthly payments.After he has made the first 20 payments,how much is the outstanding principal balance on his loan?

• A)$150,969
• B)$250,698
• C)$287,153
• D)$302,284
• E)$310,104

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