Answered
A home improvement loan is to be repaid by equal monthly payments for six years. The interest rate is 5.4% compounded monthly and the amount borrowed is $33,500. How much will the borrower still owe after four years?
A) $12,389
B) $11,167
C) $31,909
D) $23,675
E) $18,660
On May 28, 2024