Suppose you borrow $30,000 today, to be repaid in twelve equal annual payments with 4.99%...
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Finance
- Suppose you borrow $30,000 today, to be repaid in twelve equal annual payments with 4.99% APR. Approximately how much will your annual payment be if the interest rate in compounded semi-annually?
A) $2,500.00
B) $3,337.86
C) $3,382.85
D) $3,394.75
E) $3,400.85
F) None of the above (state your answer)
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