Suppose you take a $9$ year loan of $$50,000$ with an interest rate of $10\%$ and annual payments starting at the end of year $1.$ What are the annual loan

payments?

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Correct response: $8,682\mathrm{.}03+-1$

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The loan payments are $$8682\mathrm{.}03$ per year. Suppose you decide to pay off the loan at time $4.$ How much would you have to pay $($including the time $4$

payment$),$ assuming there are no penalties for early repayment?

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