A bank is negotiating a loan. The loan can be either paid off as a lump sum of $90,000 at the end of four years, or as equal annual paymentd at the end of each of the next four years. If the interest rate on the loan is 6%, what annual payments should be made so that both forms of payment are equivalent? show what you would put in a BA II Plus calculator.

15. A bank is negotiating a loan. The loan can either be paid off as a lump sum of $90,000 at the end of four years, or as equal annual payments at the end of each of the next four years. If the interest rate on the loan is 6%, what annual payments should be made so that both forms of payment are equivalent? (22.23 Sore PO F V-go.000 1