Your brother will borrow $17,800 to buy a car.The terms of the loan call for monthly payments for 5 years at an 8.6 percent annual interest rate,compounded monthly.What is the amount of each payment?
A) $287.71
B) $296.67
C) $301.12
D) $342.76
E) $366.05
F) None of the above.
Correct Answer:
Verified
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