You Miss the 11^th to 13^th Payments of a Loan

question 79

Multiple Choice

You miss the 11^th to 13^th payments of a loan.The loan payments are $519.27 each month and the interest rate is 8.45% compounded annually.How much are you behind in your payments on the day that you miss the 13^th payment?

• A)$1658.40
• B)$1586.40
• C)$1568.40
• D)$1508.40
• E)$1458.40

---

Definitions:

Nez Perce

A Native American tribe originally located in the Pacific Northwest of the United States, known for their resistance to the U.S. government in the late 19th century.

Defeat

The inability to win or succeed in a conflict, game, or competition; a loss.

Montana

is a state in the northwestern United States known for its vast wilderness areas, Rocky Mountains, and as a gateway to Yellowstone National Park.

U.S. Military

The combined forces of the United States, including the Army, Navy, Marine Corps, Air Force, and Coast Guard, tasked with defense and national security.