Question number $11.$

You borrowed $$14,000$ from your bank to build a small cabin on your property. The bank will charge' $10\%$ per year compounded quarterly. You decide to payoff this loan in $4$ years by

making quarterly payments. How much are your quarterly payments?

$ $1,042\mathrm{.}39$

$$1,082\mathrm{.}39$

$$1,092\mathrm{.}39$

$1,052\mathrm{.}39$

$ $1,072\mathrm{.}39$

None of the above

Question number