17A)

Suppose that a $9,800/ acre loan is expected to be fully amortized at 22% over 5 years. Calculate the amount of loan payment per period.

$2,669

$4,387

$3,422

$2,805

None of the answers are correct

Suppose that a $3,900/ acre loan is expected to be fully amortized at 25% over 15 years. Calculate the amount of loan payment per period.

$757

$1,347

$808

$1,010

None of the answers are correct