May 2021 1 31 Report
Calculus Question: Payment to Amortize Loan?

Find the payment necessary to amortize the loan. Round to the nearest cent.

$3000, 8% compounded annually, 11 annual payments

The answer choices are:

A) $167.96

B) $398.09

C) $447.09

D) $420.23

Science & Mathematics / Mathematics
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