Ima Baroque wants to borrow $100,000 in order to expand Bank, Rupp & Baroque, Inc If she repays the money in equal monthly installments over two years, she can get an interest rate of 12%
What interest rate and periods should you use to calculate the amount of each installment payment?
A) 12% for twenty four periods
B) 1% for twenty four periods
C) 12% for two periods
D) 24% for one period
B
Business
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