Question: The answer is B. Please show me how to arrive at this answer. Assume a bank charges 3.5% interest per quarter. You borrow $50,000, to

The answer is B. Please show me how to arrive at this answer.

Assume a bank charges 3.5% interest per quarter. You borrow $50,000, to be paid by equal quarterly payments over a 36-month period, first payment one quarter from now. How much will you have to pay each quarter? a.$5023 B$5174 .$41 67 d.$4728 e.None of the above

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