Annuities

Page 1: 2 3 Question 2 (1 point) Compare the total difference in out of pocket monthly payments between a sinking fund that reaches $62500 in 7.0 years and a loan of 62500 paid back in 7.0 years. The interest rate is 4.4% compounded monthly. The total difference refers to the difference over the whole lifetime of repayments, not just a single month. Your answer should be accurate to the nearest cent. (Ex: 42001.34) w Your Answer: Answer Question 3 (1 point) Aloan of $14500 is being paid of with weekly payments of $25.00. Calculate what the balance of the loan is after 118 weeks if the interest rate is 6.5% compounded Weekly Your answer should be accurate to the nearest cent. (Ex: 42001.34) Your Answer: 000_.JPG A