Oscar’s Kennels spent $130,000 to refurbish its current facility. The firm borrowed 70 percent of the refurbishment cost at 4.5 percent interest for five years. What is the amount of each monthly payment

$1696.51

Explanation:

70% of $130 000 = $91 000; number of payments = 12 * 5 years = 60 months ; 4.5% is converted to 4.5/1200 to accommodate the monthly repayments being calculated.

Loan monthly repayment

= principal  [ interest (1+ interest)^ number of payments] / [(1+interest)^number of payments - 1]

$91 000 [(4.5/1200* (1+ 4.5/1200)^ 60)] / [((1+4.5/1200)^60) - 1]  

= 1696.514751

= 1696.51

answer; /// that is so (false);

i would have to say its c