QUESTION $1$

Tab just borrowed $$137,000.$ Tab plans to repay this loan by making a special payment of $$23,000$ in $5$ years and tay makinit regular annual payments of $$18,400$ per year until the loan is paid off. If the interest rate on the loan is $15\mathrm{.}70$ percent per year and the first regular annual payment of stib, A$00$ is made immedlately, then how many regular aninual payments of $$18,400$ must Tab make? $11\mathrm{.}87($plus or minus $0\mathrm{.}02)$

$7\mathrm{.}71($plus or minus $0\mathrm{.}02)$

$18\mathrm{.}09($plue or minus $0\mathrm{.}02)$

None of the other altematives are within $0\mathrm{.}02$ of the correct anower

Q$.48($plus or minus $0\mathrm{.}02)$