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Answer the following. a. b. You have a 5-year amortized loan with a nominal rate of 11% and annual payments of $541.14. What is the

Answer the following.

image text in transcribed b.

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You have a 5-year amortized loan with a nominal rate of 11% and annual payments of $541.14. What is the original (time 0) principal of the loan? O A. $2,705.70 O B. $1,678.86 O C. $2,000.00 O D. $2,289.31 O E. $2,051.35

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