A $67,000 loan is taken out on a boat with the terms 9% APR for 36 months. How much are the monthly payments on this loan?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...
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A $67,000 loan is taken out on a boat with the terms 9% APR for 36 months.
How much are the monthly payments on this loan?
...
O A. $2,130.58
O B. $2,769.76
O C. $2,343.64
O D. $2,556.70
Transcribed Image Text:A $67,000 loan is taken out on a boat with the terms 9% APR for 36 months. How much are the monthly payments on this loan? ... O A. $2,130.58 O B. $2,769.76 O C. $2,343.64 O D. $2,556.70
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