If your uncle borrows $59,000 from the bank at 9 percent interest over the seven-year life of the loan. Use Appendix D for an approximate answer but calculate your final answer using the formula and financial Calculator methods What equal annual payments must be made to discharge the loan, plus pay the bank its required rate of interest? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Annual payments b. How much of his first payment will be applied to interest? To principal? (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) First Payment Interest Principal c. How much of his second payment will be applied to each? (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Second Payment Interest Principal Appendix D Present value of an annuity of $1, PV P Period 3% 156 0.990 1.970 2.941 3.902 4.853 5.795 6.728 7.652 8,566 9.471 10.368 11.255 12.134 13.004 13.865 14.718 15.562 16.398 17.226 18.046 22.023 25.808 32.835 39.196 0.980 1.942 2884 3.808 4.713 5.601 6.472 7.325 8.162 8.983 9.787 10.575 11.348 12.106 12.849 13.578 14.292 14.992 15.678 16.351 19.523 22 396 27.355 31.424 0.971 1.913 2829 3.717 4.580 5.417 6.230 7.020 7.786 8.530 9.253 9.954 10.635 11.296 11.938 12.561 13.166 13.754 14.324 14.877 17413 19.600 23.115 25.730 0.962 1.886 2.775 3.630 4.452 5.242 6.002 6.733 7.435 8.111 8.760 9.385 9.986 10.563 11.118 11.652 12.166 12.659 13.134 13.590 15.622 17.292 19.793 21.482 0.952 1.859 2.723 3.546 4.329 5.076 5.786 6.463 7.108 7.722 8.306 8.863 9.394 9.899 10.380 10.838 11.274 11.690 12.085 12.462 14.094 15.372 17.159 18.256 Porcent 7% 0.943 0.935 1.8331.808 2.673 2.624 3.465 3.387 4212 4.100 4.917 4.767 5.582 5.389 6210 5.971 6.802 6.515 7.360 7.024 7887 7.499 8.384 7.943 8.853 8.358 9.295 8.745 9.712 9.108 10.106 9.447 10.477 9.763 10.828 10.059 11.158 10.336 11.470 10.594 12.783 11.654 13.765 12.409 15.046 13.332 15.762 13.801 0.926 1.783 2.577 3.312 3.993 4.623 5.206 5.747 6.247 6.710 7.139 7.536 7.904 8.244 8.559 8.851 9.122 9.372 9.604 9.818 10.675 11.258 11.925 12.233 96 10% . 0.917 0.909 0.901 0.893 1.759 1.736 1.713 590 2.531 2487 240 2002 3.240 3.170 3.102 3.037 3.890 3.791 3.696 3.605 4.486 4.355 4.231 4.111 5.033 4.868 4.712 4.564 5.535 5.335 5.146 468 5 995 5.759 5.537 5.328 6.418 6.145 5.889 5.650 6.805 6.495 6.207 5.938 7.161 6.814 6.492 6.194 7.487 7.103 6.750 6.424 7.786 7.367 6.982 6.628 8.061 7.606 7.191 8.313 7.824 7379 6974 8.544 3.022 75497.120 8.756 8.2017.702 7250 8.950 8.365 7.8397.366 9.129 8.5147.963 7469 9.8239.0778.422 7843 10 274 9.427 8.694 8.055 10.757 9.7798.951 8.244 10.962 9.9159.042 304 Appendix D (concluded) Present value of an annuity of $1 Perod 15% 16% 0.885 1.668 2.361 0.847 1.566 2.174 17 0.855 1.585 2.210 2.743 3.199 3589 3.922 4207 19% 0.840 1.547 2.140 2639 3.058 3.410 3.706 20% 0.769 1.361 1.816 2.166 0.862 1.605 2.246 2.798 3.274 3.685 4039 4344 2.974 2.690 25% 0.800 1.440 1.952 2.362 2.689 2.951 3.161 3.329 0.741 1.289 1.696 1.997 2.220 20% 0.833 1.528 2.106 2.589 2.991 3.326 3.605 3,837 4.03 4.192 3.517 2.436 23 2 508 4.607 4451 3.463 2.665 4.659 4.793 0.877 1.647 2.322 2.914 3.433 3889 4.288 4.639 4.946 5.216 5.453 5.660 5.842 6.002 6.142 6.265 6.373 6.467 6.550 6.623 6.873 7.003 7.105 7.133 0.870 1.626 2.283 2.855 3.352 3.784 4.160 4.487 4.772 5.019 5.234 5.421 5.583 5.724 5.847 5.954 6.047 6.128 6.198 6.259 6.464 6.566 6.642 6.661 5.029 5.197 5.342 5.468 5.575 5.668 5.749 533 40% 0.714 1.224 1.589 1.849 2.035 2.168 2.263 2.331 2379 2414 2.428 2.456 2.469 2.478 2484 2.489 2.492 2494 2.496 2.497 2.499 2.500 2.500 2.500 50% 0.667 1.111 1.407 1.605 1.737 1.824 1.883 1.922 1.948 1.965 1.977 1.985 1.990 1.993 1.995 1.997 1.998 1.999 1.999 1.999 2.000 2.000 2.000 2.000 6.462 6.729 4 988 5.118 5.229 5.324 5 405 5.475 5.534 5.584 5.628 5.766 5.829 5.871 5.880 3.571 3.656 3.725 3.780 3.824 3.859 3.887 3.910 3.928 3.942 3.954 3.985 3.995 3.999 4.000 2840 6840 6.938 7025 7.330 7.496 7.634 7.675 5.000 5.092 5.162 5.222 5273 5.316 5.353 5.467 5.517 5.548 5.554 5.877 5.929 6.097 6.177 6,233 6.246 4.802 4876 493 4.988 5.033 5.070 5.101 5.195 5.235 5.258 5.262 4.870 4.948 4.979 4.997 4.999 2848 2.850 2.856 2.857 2.857 2.857 3.333
