Expand your knowledge base with the help of IDNLearn.com's extensive answer archive. Our Q&A platform is designed to provide quick and accurate answers to any questions you may have.

You borrow $78,000 to buy a new car. The bank agrees to loan you the money at 10% compounded monthly for three years. What is the outstanding balance after the 24th payment is made? Choose the closest answer.
a) $30,202
b) $28,628
c) $32,719
d) $45,281
e) $25,379