Assume you take out a $3000 loan, compounded monthly, for 2 and a half years at 8.5% APR. What is the last month's interest? Answer rounded to the nearest penny. $26.08 $147.04 $10.76 O None of the other answers are correct. $2716.46 $707.52

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A: Given  Pv=300000*75%=225000 i=6%/12=0.5% n=30*12=360 Pv=pmt*(1-(1+i)^-n)/i

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