Solve the problem using the loan payoff table or an amortization table.
A new fax machine cost Miller Ltd. $2098. They are to pay it off in 18 months at 8% interest. What will each monthly payment be, and how much interest will they pay on the loan?
A. $124.08, $135.44
B. $125.04, $152.72
C. $95.84, $-372.88
D. $94.89, $-389.98
Answer: A
Mathematics
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