Regine borrows $5000, to be repaid in 36 equal monthly installments. The interest rate is 10% per year, compounded continuously. How much money must be repaid at the end of each month? A. $116.96 B. $155.63 C. $161.43 D. $146.55

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Regine borrows $5000, to be repaid in 36 equal monthly
installments. The interest rate is 10% per year, compounded
continuously. How much money must be repaid at the end of
each month?
A. $116.96
B. $155.63
C. $161.43
D. $146.55
Transcribed Image Text:Regine borrows $5000, to be repaid in 36 equal monthly installments. The interest rate is 10% per year, compounded continuously. How much money must be repaid at the end of each month? A. $116.96 B. $155.63 C. $161.43 D. $146.55
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