Suppose You Borrowed $6,000 at a Rate of 9

question 88

Multiple Choice

Suppose you borrowed $6,000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years.How large would your payments be?

• A) $1,926.09
• B) $1,852.01
• C) $2,166.85
• D) $1,833.49
• E) $1,629.77

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