A bank just approved your small business loan for $20,000. The loan has an interest rate of 11.0% and will be repaid with 10 end-of-year payments, What is the required annual loan payment? $3, 396.03 $3, 116.40 $2, 980.59 $3, 642.15 $4, 373.14 Halfway through the loan's life, what is the loan's remaining balance? $11, 901 $12, 551 $17 513 $15, 288 $13 339 What percentage of the total payments made during the first five years will be made toward interest? 49.44% 56.13% 45.66% 47.59% 51.22%