Question: What will be the required monthly payment to repay a loan of $48,000 in five years if the interest rate is 8.75% compounded continuously? Select

What will be the required monthly payment to repay a loan of $48,000 in five years if the interest rate is 8.75% compounded continuously? Select one: a. $991.33 b. $1005.98 c. $1014.90 d. None of these

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