Question: Can you please provide the explanation, formula and correct answer for the problem above? What is the expected price of the following loan? Principal (par

Can you please provide the explanation, formula and correct answer for

Can you please provide the explanation, formula and correct answer for the problem above?

What is the expected price of the following loan? Principal (par value): 15,000 Stated rate:.12 Maturity: 7 year Interest rate for the loan: .08 Select one: C a. $18,123.82 0 b. $18,092.56 C C. $18,100.11 C d. $18,074.34

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