You borrowed 8000 at a rate of 75 and must repay it in 5, Financial Management

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You borrowed 8000 at a rate of 75 and must repay it in 5

You borrowed $8,000 at a rate of 7.5% and must repay it in 5 equal payments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment?

A. $6,022.68 B. $1,977.32 C. $6,622.68 D. $14,411.02

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Financial Management: You borrowed 8000 at a rate of 75 and must repay it in 5

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