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please show working 40. You have borrowed $39722 and need to repay the loan in equal annual payments over the next 5 -years. The interest
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40. You have borrowed $39722 and need to repay the loan in equal annual payments over the next 5 -years. The interest rate on the loan is 7%. What is the amount of interest paid in year 4 (as part of 4 th annual payment)? 41. You have borrowed $47704 and need to repay the loan in equal annual payments over the next 5 -years. The interest rate on the loan is 6%. What is the remaining balance at the end of 3 rd year (remaining loan balance after 3 rd annual payment is paid out by you)? 42. You have borrowed $41906 and need to repay the loan in equal annual payments over the next 5 -years. The interest rate on the loan is 6%. What is the total amount of interest paid over the life of the loan Step by Step Solution
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