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4. Software Solutions Incorporated is borrowing $2,500,000 for 5 years from the Silicon Valley Bank. The bank is charging a 6 percent rate. If the

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4. Software Solutions Incorporated is borrowing $2,500,000 for 5 years from the Silicon Valley Bank. The bank is charging a 6 percent rate. If the firm is making five annual payments of principal and interest, how much will each payment be in order to reduce the loan balance to zero in five years? A. $593,491 B. $430,737 C. $402,115 D. $388,033 E. $263,798

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