Liam had an extension built onto his home. He financed it for 48 months with a loan at 5.00% APR. His monthly payments were $770. How much was the loan amount for this extension?
A) $33,436
B) $40,123
C) $46,810
D) $53,497

Question

Quizplus · Accepted Answer

A) Calculate the PV annuity of $770 for 48 months at 11ea84dc_f573_cd61_9a63_773bf69bcf69_TB1316_11_TB1316_11 11ea84dc_f573_cd62_9a63_1db4c3dc777c_TB1316_11_TB1316_11

Liam Had an Extension Built onto His Home