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Jones took out a loan of $5370 on January 1, 2013. He repays this loan with monthly payments starting on 1/1/2013 and on the first

Jones took out a loan of $5370 on January 1, 2013. He repays this loan with monthly payments starting on 1/1/2013 and on the first day of each of the next 59 months. The effective annual interest rate is 5%. Which of the following is closest to the payment amount? Possible Answers A 100.43 B 100.66 100.85 D 101.07 E 101.26

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