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Mariah is receiving a small business loan of $60,000 later today. This loan has an...

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Mariah is receiving a small business loan of $60,000 later today. This loan has an 18% stated annual interest rate, compounded monthly. She will pay back the loan in 30 monthly payments, beginning 1 month from now. If she pays off equal amounts of the principal every month, what will her second payment be? a. $3,200.5 b. $2,000 c. $2,870 d. $3,040 e. $2,950.5

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