Q1.Device four plans for repayment of $25,000 in 5 years with interest at 15%

i) Plan 1: At end of each year pay $5,000 principal plus interest due.

ii) Plan 2: Pay interest due at end of each year and principal at end of 5 years.

iii) Plan 3: Pay in 5 equal end of year payments i.e. $ 7457.5.

iv) Plan 4: Pay principal and interest in one payment at end of 5 years.