Albany County wants to raise $ 4,000,000 to finance the construction of a new high school. The

Question:

Albany County wants to raise $ 4,000,000 to finance the construction of a new high school. The school board wants to make quarterly payments to repay the loan over the next 10 years. What will be the amount of the payments assuming these interest rates?
A. 10 percent
B. 8 percent
C. 6 percent