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A commercial bank will loan you $17,500 for two years to buy a car. The loan must be repaid in 24 equal monthly payments. The

A commercial bank will loan you $17,500 for two years to buy a car. The loan must be repaid in 24 equal monthly payments. The annual interest rate on the loan is 6% of the unpaid balance. The amount of the monthly payments is $775.61. What is the loan balance after 18 months? A)8,915.70 B) $4,653.66 C) $4,573.29 D) 4,375.00

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