A loan of 30,000 at the interest rate of 6% compounded annually is to

1.	A loan of 30,000 at the interest rate of 6% compounded annually is to be amortizedby equal payments at the end of each year for 5 years. Find annual payment.(a) 6121.89 (b) 7121.89(c) 8121.89 (d) 9121.89
Answer» ANSWER: TOTAL AMOUNT:30000 INTREST :6% TOTAL TIME:5 YEARS. 30000%6=1800. 1800×5YEARS=9121.89 .

A loan of 30,000 at the interest rate of 6% compounded annually is to be amortizedby equal payments at the end of each year for 5 years. Find annual payment.(a) 6121.89 (b) 7121.89(c) 8121.89 (d) 9121.89

Answer»

ANSWER:

TOTAL AMOUNT:30000

INTREST :6%

TOTAL TIME:5 YEARS.

30000%6=1800.

1800×5YEARS=9121.89 .

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A loan of 30,000 at the interest rate of 6% compounded annually is to be amortizedby equal payments at the end of each year for 5 years. Find annual payment.(a) 6121.89 (b) 7121.89(c) 8121.89 (d) 9121.89​

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A loan of 30,000 at the interest rate of 6% compounded annually is to be amortizedby equal payments at the end of each year for 5 years. Find annual payment.(a) 6121.89 (b) 7121.89(c) 8121.89 (d) 9121.89