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Hannah took out a loan on 4/1/2017. She repays the loan with payments of $1200 per quarter for 5 years with the first payment on

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Hannah took out a loan on 4/1/2017. She repays the loan with payments of $1200 per quarter for 5 years with the first payment on April 1, 2017. Given an annual effective rate of interest of 3.2%, which of the following is closest to the loan amount? Possible Answers 22,290 B 22,270 C 22,120 D 22,310 E 22,330

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