Carol can borrow $13 000 to buy a new car from the bank at 8% for five years, or from her friend Eric, who is willing to lend her the money at 7% for five years. If Carol accepts Eric's offer, he can expect a lump- sum repayment in five years of approximately
A) $19 097.
B) $17 837.
C) $15 239.
D) $18 233.
E) $13 544.
Correct Answer:
Verified
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