Question: You intend to borrow $ 2 5 , 0 0 0 from your bank to buy a boat. The loan will be amortized over a

You intend to borrow $25,000 from your bank to buy a boat. The loan will be amortized over a period of 6 years. The nominal interest rate is 11% and interest is paid monthly. What are the monthly payments O a. $475.85 O b. $522.530 c. $622.55 O d. $430.44

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