Question: Sara borrows exist15,000 from a local bank that will charge her an interest rate of 6% per annum compounded monthly for a 48- month loan.

Sara borrows exist15,000 from a local bank that will charge her an interest rate of 6% per annum compounded monthly for a 48- month loan. What portion of her twelfth payment is interest? Given that U_11 = 11, 875.08: U_12 = 11, 582.1 (Ut = the unpaid balance after making payment t) 1) exist57.91 2) exist59.37 3) exist292.97 4) exist352.25

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