Question: Jacob borrowed $ 1 5 , 0 0 0 from his parents to buy a new car. He agreed to pay his parents a monthly

Jacob borrowed $15,000 from his parents to buy a new car. He agreed to pay his parents a monthly payment at 3% interest. What does his
monthly payment need to be to pay off the loan in 5 years?
Multiple Choice
$266.90
$269.53
$250.00
$275.00
Jacob borrowed $15,000 from his parents to buy a new car.

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