Problem 5-10 (Algo) Solving for unknowns; installment notes (LO5-9) Lowlife Company defaulted on a $180,000 loan that was due on December 31, 2021. The bank has agreed to allow Lowlife to repay the $180,000 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 S1) (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the required annual payment if the bank's interest rate is 10% and four payments are to be made. 2. Calculate the required annual payment if the bank's interest rate is 8% and five payments are to be made. 3. If the bank's interest rate is 10%, how many annual payments of $27,713 would be required to repay the debt? 4. If three payments of $66,097 are to be made, what interest rate is the bank charging Lowlife? Complete this question by entering your answers in the tabs below.Problem Required 1 Required 2 Required 3 Required 4 Calculate the required annual payment if the bank's interest rate is 10% and four payments are to be made. (Round your final answers to nearest whole dollar amount.) Table or calculator function: Present Value: no Annual Installment Lowlife Company defaulted on a $180,000 loan that was due on December 31, 2021. The bank has agreed to allow Lowlife to re the $180,000 by making a series of equal annual payments beginning on December 31, 2022. (FV of $1. PV of $1. FVA of $1. PVA FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the required annual payment if the bank's interest rate is 10% and four payments are to be made. 2. Calculate the required annual payment if the bank's interest rate is 8% and five payments are to be made. 3. If the bank's interest rate is 10%, how many annual payments of $27,713 would be required to repay the debt? 4. If three payments of $66,097 are to be made, what interest rate is the bank charging Lowlife? Complete this question by entering your answers in the tabs below.Problem Required 1 Required 2 Required 3 Required 4 Calculate the required annual payment of the bank's 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: Annual Installment Lowlife Company defaulted on a $180,000 loan that was due on December 31, 2021. The bank has agreed to allow Lowlife to repay the $180,000 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 bank's interest rate is 10% and four payments are to be made. 2. Calculate the required annual payment if the bank's interest rate is 8% and five payments are to be made. 3. If the bank's interest rate is 10%, how many annual payments of $27713 would be required to repay the debt? 4. If three payments of $66,097 are to be made, what interest rate is the bank charging Lowlife? Complete this question by entering your answers in the tabs below.Problem Required 1 Required 2 Required 3 Required 4 If the bank's interest rate is 10%, how many annual payments of $27,713 would be required to repay the debt? (Round the value of "n" to the nearest whole number.) Present Value: Annual Installment Problem 5-10 (Algo) Solving for unknowns; installment notes (LO5-9] Lowlife Company defaulted on a $180,000 loan that was due on December 31, 2021. The bank has agreed to allo the $180,000 by making a series of equal annual payments beginning on December 31, 2022. (FV of $1. PV 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 bank's interest rate is 10% and four payments are to be made. 2. Calculate the required annual payment if the bank's interest rate is 8% and five payments are to be made. 3. If the bank's interest rate is 10%, how many annual payments of $27,713 would be required to repay the debt? 4. If three payments of $66,097 are to be made, what interest rate is the bank charging Lowlife? Complete this question by entering your answers in the tabs below.Problem Required 1 Required 2 Required 3 Required 4 If three payments of $66,097 are to be made, what interest rate is the bank charging Lowlife? (Round percentage one decimal place. Round the interest rate to the nearest whole percentage.) Present Value: n Annuity Payment
