If you borrow $42,000 over four years with monthly payments and an APR of 3.35% how much principal will you pay during the fourth year of the loan making only the minimum required payments?

A. $11,033

B. $10,670

C. $11,543

D. $1,528

A 6-month time account quotes a 7.5% annual percentage rate. What will be its effective annual rate?

A. 12.87%

B. 24.72%

C. 7.69%

D. 7.74%

E. 7.64%