The value of a collectible coin can be represented by the equation mc018-1.jpg, where x represents its age in years and y repres
2 answers:
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Answer:
monthly payment is $377
C is the correct option.
Step-by-step explanation:
The formula for the monthly payment is given by
Given that,
P = $20,000
n = 5 years = 60 months
r = 0.05
Substituting these values in the formula
On simplifying, we get
Therefore, the monthly payment is $377
C is the correct option.