Business, 18.02.2021 21:30 tylerbrewton23
You borrow $10,000 at 15% per year and will pay off the loan in three equal annual payments with the fi rst occurring at the end of the fourth year after the loan is made. The three equal annual payments will be $6,661.08. Which of the following is true for your fi rst payment at the end of year 4?Interest = $2,975.63Principal = $5,712.74Interest = $985.45Principal = $6,569.65Interest = $2,436.52Principal = $7,555.10Interest = $3,421.97Principal = $6,569.65Interest = $0.00Principal = $9,991.62Interest = $2,118.71Principal = $6,569.65Interest = $1,303.26Principal = $8,688.37Interest = $2,587.50Principal = $4,967.60Interest = $2,250.00Principal = $7,741.62Interest = $9,991.62Principal = $0
Answers: 2
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You borrow $10,000 at 15% per year and will pay off the loan in three equal annual payments with the...
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