Electronics Inc. purchased a machine for $140,000. They borrow $120,000 from the bank at annual 4% nominal rate. The loan agreement requires monthly repayments over the next 6 years. How much is the monthly repayment amount?
a. 1,650
b. 2,065
c. 1,907
d. 1,877
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border: none;
color: white;
padding: 10px 20px;
text-align: center;
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color: white;
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text-align: center;
text-decoration: none;
display: inline-block;
font-size: 16px;
margin: 4px 2px;
cursor: pointer;
border-radius: 5px;
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