What Is the Size of the Final Unequal Payment of a Loan

question 105

Multiple Choice

What is the size of the final unequal payment of a loan that has 69.47 payments and the equal payment size is $215.64? The interest rate is 3.1% per compounding period.

• A) $120.17
• B) $210.17
• C) $102.17
• D) $99.10
• E) $99.17

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