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Your friend borrows $20,000 from you today. She agrees to repay you in two equal...

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Finance

Your friend borrows $20,000 from you today. She agrees to repay you in two equal amounts s the first to occur in 2 years from today and the other in 3 years from today. If the interest rate is 4.8% per annum compounding monthly, what will be the amount of each repayment?

Select one:

A.

$10,678.90

B.

$11,200.00

C.

$11,240.46

D.

$11,269.04

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