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Author Question: Donna makes annual end of year payments of $5,403.71 on a four year loan with an interest rate of 13 ... (Read 236 times)

jasdeep_brar

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Question 1

Betty borrows $50,000 at 10 percent annually compounded interest to be repaid in four equal annual installments. The actual end of year loan payment is (Round to the nearest whole dollar.)
◦ $10,774
◦ $12,500
◦ $14,340
◦ $15,774

Question 2

Donna makes annual end of year payments of $5,403.71 on a four year loan with an interest rate of 13 percent. The original principal amount was (Round to the nearest whole dollar.)
◦ $16,073.
◦ $22,139.
◦ $15,092.
◦ $17,175.


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Marked as best answer by jasdeep_brar on Apr 25, 2021

Mholman93

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jasdeep_brar

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Reply 2 on: Apr 25, 2021
Great answer, keep it coming :)


Laurenleakan

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Reply 3 on: Yesterday
:D TYSM

 

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