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majarm majarm
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6 years ago
The loan will have a term of 54 months and monthly payments of $385.13. The interest rate on the loan is 8.84% compounded quarterly. What is the amount of money that was borrowed?
A) $17 310.71
B) $17 430.71
C) $17 030.71
D) $17 130.71
E) $20 368.27
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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6 years ago
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