Mathematics

26 October, 21:33

Lulu took out a 3-year loan for $1800 at an electronics store to be paid back with monthly payments at a 15.6% APR, compounded monthly. If the loan offers no payments for the first 8 months, how much will Lulu owe when she begins making payments?

A. $2865.58

B. $2584.26

C. $1800.00

D. $1995.94

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