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Suppose you borrow $30,000 today, to be repaid in twelve equal annual payments with 4.99%...

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Finance

  1. 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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