How much money could Louie borrow if he can afford to make monthly payments of $350 for four years at an interest rate of 9% compounded monthly?
A) $14,065
B) $13,593
C) $10,752
D) $8,915
E) $3,827

Question

Quizplus · Accepted Answer

The correct answer is A because $14,065 is the amount of money that Louie can borrow if he can afford to make monthly payments of $350 for four years at an interest rate of 9% compounded monthly.

How Much Money Could Louie Borrow If He Can Afford