Suppose you take a $9$ year loan of $$50,000$ with an interest rate of $14\%$ and annual payments starting at the end of year $1.$ What are the annual loan

payments?

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Correct response: $10,108\mathrm{.}42+-1$

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The loan payments are $$10108\mathrm{.}42$ per year. Suppose you decide to pay off the loan at time $3.$ How much would you have to pay $($including the time $3$

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

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