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South Penn Trucking is financing a new truck with a loan of $24,803 to be repaid in 15 annual end-of-year installments of $2,066.92. What annual

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South Penn Trucking is financing a new truck with a loan of $24,803 to be repaid in 15 annual end-of-year installments of $2,066.92. What annual interest rate is the company paying? 3.03% 2.73% 2.83% 2.63% 2.93% The Howe family recently bought a house. The house has a 15-year, $201.526.00 mortgage with monthly payments and a nominal interest rate of 4.6 percent. What is the total dollar amount of principal the family will pay during the first 5 years of their mortgage? (Assume that all payments are made at the end of the month.)

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