Li-jen borrows 36000 for a home improvement project loan, Financial Management

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Li-jen borrows 36000 for a home improvement project loan

Li-Jen borrows $36,000 for a home improvement project loan from the bank with 60-month fixed-rate financing at an annual interest rate of 5.7% compounded monthly. What is the amount of her monthly loan payment to amortize the loan?

A. $706.07

B. $690.97

C. $685.98

D. $701.33

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Financial Management: Li-jen borrows 36000 for a home improvement project loan

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Financial Management: Li-jen borrows 36000 for a home improvement project loan

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