Actuarial Math

#5 A loan of $20,000 was originally scheduled to be repaid by 25 equal annual payments at the end of each year. An extra payment with each of the 6th through the 10th scheduled payments will be sufficient to repay the loan 5 years earlier than under the original schedule. Solve for R. #5 A loan of $20,000 was originally scheduled to be repaid by 25 equal annual payments at the end of each year. An extra payment with each of the 6th through the 10th scheduled payments will be sufficient to repay the loan 5 years earlier than under the original schedule. Solve for R