Question: 8. Wildcat Engineering decides to take a $10,000 interest only loan. The loan is to be paid monthly over a two year period. The bank

8. Wildcat Engineering decides to take a $10,000 interest only loan.

8. Wildcat Engineering decides to take a $10,000 interest only loan. The loan is to be paid monthly over a two year period. The bank agrees to the loan at 2.0% above the current Prime rate which is 4.0%. The payment due in the last month is closest to: (8 Pts) a. $10,000 b. $10,050 c. $12,000 d. $12,060 e. $14,000 f. $14,070

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