Question: Multiple Choice Question Which statement correctly applies to this monthly loan payment calculation? PMT360 = $145,000 {0.005/[1 - 1/(1 + 0.005)360]} = $869.35 Multiple choice

Multiple Choice Question Which statement correctly applies to this monthly loan payment calculation? PMT360 = $145,000 {0.005/[1 - 1/(1 + 0.005)360]} = $869.35 Multiple choice question. This is a 36-year loan. The APR is 6 percent. The annual interest rate is 0.5 percent. The amount borrowed equals 360 $869.35

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