Question
Shirley took out a loan from the bank today for X. She plans to repay this loan by making payments of $440.00 per month for
Shirley took out a loan from the bank today for X. She plans to repay this loan by making payments of $440.00 per month for a certain amount of time. If the interest rate on the loan is 0.84 percent per month, she makes her first $440.00 payment later today, and she makes her final monthly payment of $440.00 in 5 months, then what is X, the amount of the loan? An amount less than $2,154.00 or an anmount greater than $2,667.00 An amount equal to or greater than $2,154.00 but less than $2,363.00 An amount equal to or greater than $2,363.00 but less than $2,574.00 An amount equal to or greater than $2,574.00 but less than $2,612.00 An amount equal to or greater than $2,612.00 but less than $2,667.00
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