Wildcat engineering decides to take a $10,000 interest only lona. The loan is to be paid montly over a two year period. The bank agrees to the loan at 2% above the current prime rate which is 4%. The...

Wildcat engineering decides to take a $10,000 interest only lona. The loan is to be paid montly over a two year period. The bank agrees to the loan at 2% above the current prime rate which is 4%. The payment due in the last month is closest to:

a.$10,000

b.$10,050