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Solve the Problem Using the Loan Payoff Table or an Amortization

Question 56

Multiple Choice

Solve the problem using the loan payoff table or an amortization table. Solve the problem using the loan payoff table or an amortization table. -If you borrowed $5,738,447.10 at 9% interest paid monthly for 3 years, what is the amount of each payment? A) $185,179.69 B) $182,482.62 C) $159,815.75 D) $179,842.93
-If you borrowed $5,738,447.10 at 9% interest paid monthly for 3 years, what is the amount of each payment?


A) $185,179.69
B) $182,482.62
C) $159,815.75
D) $179,842.93

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