answer #1 through #8

You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interestl WSv une ursuament meunod - not straight line Do NOT round any intermediate numbers. Do NOT turn this into a monthly problem. Do NOT put in minus signs, answer all positive numbers. Required: 1. What is the annual payment fround to the nearest \$)? 2. What are the total interest poyments (round to the nearest \$)? 3. Ater 38 poyments hove been made, what percentage of the total interest has been paid (tound to the nearest percentoge point? 4. Affer 38 payments have been made, what percentage of the total principal has been paid fround to the nearest percentage poing? Redo the problem if the interest rate is 2N (Cor a well designed spreadsheet this should take 30 seconds) Aequired: 6. What is the annas payment (round to the neerest 3)? 6. What are the total interest payments pound to the nearest \$)? 1. What is the annual payment (round to the nearest \$)? 2. What are the total interest payments (round to the nearest \$)? 3. After 38 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 4. After 38 payments have been made, what percentage of the total principal has been poid (round to the nearest percentage point)? Redo the problem if the interest rate is 2% (for a well designed spreadsheet this should take 30 seconds) Required: 5. What is the annual payment (round to the nearest \$)? 6. What are the total interest poyments (round to the nearest $ )? 5 7. After 38 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? 8. After 38 payments have been made, what percentage of the tothl principal has been paid (round to the nearest percentage point)