A bank just approved your small business loan for $30,000. The loan has an interest rate of 6.5% and will be repaid with 10 end-of-year payments. What is the required annual loan payment? $3,642.15 $2,980.59 $4,173.14 $3,396.03 $3,254.91

Halfway through the loan's life, what is the loans remaining balance? $17,342 $13,339 $16,551 $14,736 $11,901

What percentage of the total payments made during the first five years will be made toward interest? 56.13% 43.64% 39.34% 45.66% 52.93%