You borrow $25,000 to be repaid in 12 monthly installments of $2,292.0
You borrow $25,000 to be repaid in 12 monthly installments of $2,292.00. The annual interest rate is
closest to
A) 24 percent. B) 12 percent. C) 1.5 percent. D) 18 percent.
ANSWER
D
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