If the annual interest rate is 12%, what is the monthly interest rate? a. 1% b. 1.2% c. 12% d. 144% calculate the monthly payment for a $2,500 loan at 10% annual interest for two years. use the formula, m = pm(1+m)^na/(1+m)^na-1 a. $85.15 b. $115.40 c. $125.72 d. $138.48 calculate the total payback for a $2,500 loan at 10% annual interest for two years. use the formula, m = pm(1+m)^na/(1+m)^na-1 as needed. a. $1,021.80 b. $2,043.60 c. $1,384.80 d. $2,769.60 oliva buys a 5-piece living room set from a furniture store offering 0% interest for 9 months. calculate the average monthly payment she should make to avoid paying deferred interest charges for the $4,999 set. a. $277.72 b. $416.58 c. $555.44 d. $833.17 alice wants to use the stack method to pay down her debts listed in the table below. if she applies an extra $150 a month to her debts, what will be the first debt she targets to pay off and what will be the monthly amount she applies to it? debts interest rate minimum monthly payment debt 1 5.5% $75 debt 2 2.75% $250 debt 3 13.25% $150 a. debt 2, $400 b. debt 2, $150 c. debt 3, $300 d. debt 3, $400