An $80,000 loan is amortized by monthly payments over 25 years. The interest rate charged is 10% compounded semi-annually.
-A $3100 item is paid for by end-of-month payments of $350. The interest rate charged is 15% compounded monthly. What is the size of the final payment?
A) $158.46
B) $236.88
C) $154.52
D) $113.12
E) $193.54
Correct Answer:
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