The answer is not B.
I took the quiz on Edge and put B and got it wrong
Answer:
C: determine the periods in the problem, which is the number of periods per year.
Step-by-step explanation:
Amortization of loan has scheduled periodic payments for both principal and interest. Here, the borrower first pays off the interest expense for the period, and then the remaining principal.
Therefore, the first step when solving present or loan amortization using a formula will be - determine the periods in the problem, which is the number of periods per year.
