Megan takes out a loan of $13000, which she repays by the amortization method at a nominal rate of 6% compounded quarterly. Megan makes level payments at the end of each quarter for 14 years. Find the...

Megan takes out a loan of $13000, which she repays by the amortization method at a nominal rate of 6% compounded quarterly. Megan makes level payments at the end of each quarter for 14 years.

Find the amount of interest paid in the 26th payment.

Possible Answers

A

124.20

B

127.46

C

134.65

D

137.25

E

217.31