Kizspy Question: 38
(Choose 1 answer)
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Dawson Electricals has borrowed $27,850 from its bank at an annual rate of 8.5 percent. It plans to repay the
loan in eight equal installments, beginning in a year. What is its annual loan payment? (Round to the nearest
dollar.)
A. $4,708
B. $5,134
C. $4,939
D. $4,748
