6.

A 15-year loan with a principal value of $250,000 loan is to scheduled to be paid with equal annual payments. The interest rate on the loan is 4.5%. What is the remaining balance on the loan after 3 years?

Group of answer choices

$212,266.45

$212,496.21

$222,364.78

$198,539.98

7.

Dally invests $500 in an account that pays 5 percent simple interest. What is her account balance in 20 years?

Group of answer choices

$1,000.00

$1,326.65

$900.00

$500.00

9.

Suppose you have taken out $35,000 in student loans. The repayment will take the form of equal monthly payments for the next 10 years. The interest rate on your student loans is 5%. Which one of the following statements is true assuming that you repay the loan as agreed?

Group of answer choices

The total amount paid over 10 years is about $35,000

The first interest paid is $145.83

The first principal payment is $371.23

The monthly payment is $291.67