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If you borrow $40,000 at an annual interest rate of 11% for seven years, what is the annual payment (prior to maturity) on an interest-only
If you borrow $40,000 at an annual interest rate of 11% for seven years, what is the annual payment (prior to maturity) on an interest-only type of loan?
Question 11 options:
| $4,400.00 |
| $8,333.33 |
| $12,161.29 |
| $6,000.0
|
The main variables of the TVM equation are ________.
Question 15 options:
| present value, future value, perpetuity, interest rate, and principal |
| present value, future value, perpetuity, interest rate, and payment |
| present value, future value, time, interest rate, and payment |
| present value, future value, time, annuity, and interest rate |
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