You have agreed to a $25,000 fixed-rate loan from Valley State today and promise to repay the loan with 24 equal monthly payments at an APR of 7.50%.How large are your monthly payments? Use a financial calculator to determine your answer.
A) $1,124.99
B) $1,218.17
C) $1,532.45
D) $1,602.71
Correct Answer:
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