Answered: years. The interest rate is i(12) =…

years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the loan just after 453 payments? O a. $349.45. O b. $373.01. C. $392.64. O d. $325.89. e. $298.40.

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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Question

Yagoda borrows $2,150.00 which she will repay with level weekly payments over 10
years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the
loan just after 453 payments?
a. $349.45.
O b. $373.01.
O c. $392.64.
O d. $325.89.
O e. $298.40.

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