You borrow $1,000 at a 10 percent annual rate to be repaid in 3 equal payments at the end of each of the next 3 years. How large is the total interest payment over the three years? I invested $800,000 in a cattle ranch and I sold that ranch for $2,500,000 ten years later. What was my annual percentage rate return? How much can I borrow for the purchase of my first home if I can afford to make monthly payments of $500, and the annual interest rate is 6 percent on a 30-year mortgage?