If you were to borrow $10,000 over five years at 12 percent compounded monthly, which is the correct loan payment to be made monthly?
A. $122
B. $222
C. $168
D. $187
Answer:B
If you were to borrow $10,000 over five years at 12 percent compounded monthly, which is the correct loan payment to be made monthly?
A. $122 B. $222 C. $168 D. $187