Lowlife Company defaulted on a $190,000 loan that was due on December 31, 2021. The bank has agreed to allow Lowlife to repay the $190,000 by making a series of equal annual payments beginning on December 31, 2022. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the required annual payment if the banks interest rate is 10% and four payments are to be made. 2. Calculate the required annual payment if the banks interest rate is 8% and five payments are to be made. 3. If the banks interest rate is 10%, how many annual payments of $27,885 would be required to repay the debt? 4. If three payments of $69,117 are to be made, what interest rate is the bank charging Lowlife?

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Annual Installment:

required annual payment if the banks interest rate is 8% and five payments are to be made. (Round your final answers to nearest whole dollar amount.)

Table or calculator function:
Present Value:
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Annual Installment:

If the banks interest rate is 10%, how many annual payments of $27,885 would be required to repay the debt? (Round the value of "n" to the nearest whole number.)

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Annual Installment:

If three payments of $69,117 are to be made, what interest rate is the bank charging Lowlife? (Round percentage answer to one decimal place. Round the interest rate to the nearest whole percentage.)

Present Value:
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Annuity Payment