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14o 16 XYZ Inc. issued a 15-year loan with an interest rate quoted at 2.89% (APR compounded quarterly). XYZ makes a monthly payment of $2643.

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14o 16 XYZ Inc. issued a 15-year loan with an interest rate quoted at 2.89% (APR compounded quarterly). XYZ makes a monthly payment of $2643. How much did XYZ Inc. borrow? (Note: retain at least six places of a decimal in your calculation) Select one O $385855.33 O $385668.51 O $38893 27 O $1694389.96 O Incorrect question Mortgages are always quoted in APR compounded monthly Unsure

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