3. You borrow $8000 at an annual interest rate of 6% to be repaid in 4 equal annual installments. Your ending balance at the end of period 2 will be equal to approximately

a. 2178

b. 4133

c. 6171

d. none of the above

4. You borrow $8000 at an annual interest rate of 6% to be repaid in 4 equal annual installments. If you want to repay the who;e loan at the end of period 2, then your payment will be equal to approximately

a. 4233

b. 6171

c. 4000

d. none of the above