Multiple Choice
A company borrows $ 100,000 on October 1st, 2039. The interest percentage is 4% annually, with interest and installment payments on the first of February, June, and October of each year. The loan will be repaid over 5 years, straight-line. What is the interest payment on the first of February 2040?
A) $ 333
B) $ 1,000
C) $ 1,333
D) $ 1,667
Correct Answer:
Verified
Correct Answer:
Verified
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