You have agreed to a $60,000 fixed-rate loan from Wells Fargo Bank today and promise to repay the loan with 48 equal monthly payments at an APR of 6.50%.How large are your monthly payments? Use a financial calculator to determine your answer.
A) $1,124.99
B) $1,162.82
C) $1,422.90
D) $1,512.71
Correct Answer:
Verified
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