Suppose you borrowed $12, 000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years.How large would your payments be?
A) $3, 704.02
B) $3, 889.23
C) $4, 083.69
D) $4, 287.87
E) $4, 502.26
Correct Answer:
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