Annuity formula = Interest / (1- (1/ (1+rate))^n)
= (72000 * 10.2%) / (1- (1/(1+10.2%))^9)
= $12601.68
Bath's Bank offers you a $72,000, nine-year term loan at 10.20 percent annual interest. Required: What...
Erindale Bank offers you a $48,000, five-year term loan at 7.5 percent annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $
Dinero Bank offers you a five-year loan for $51,000 at an annual interest rate of 8.5 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.) Annual loan payment $
Dinero Bank offers you a $39,000, 8-year term loan at 7 percent annual interest. Required: What will your annual loan payment be? (Do not round your intermediate calculations.) O $7475.82 O $6,531.24 O $6,988.43 O $6,786.58 O$6,280.40
Prescott Bank offers you a five-year loan for $66,000 at an annual interest rate of 7.5 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Dinero Bank offers you a $31,000, 7-year term loan at 12 percent annual interest. Required: What will your annual loan payment be? $6,792.65 $7,009.43 $6,578.67 $3,887.96 $7,268.14
Erindale Bank offers you a $60,000, six-year term loan at 8.0% annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $
Erindale Bank offers you a $55,000, four-year term loan at 7.0% annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $0
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Bank of America offers you a $120,000, 5-year term loan at 6 percent annual interest. What will your annual loan payment be?
Bank of America offers you a $120,000, 6-year term loan at 8 percent annual interest. What will your annual loan payment be?