You have a loan outstanding. It requires making three annual payments at the end of the next three years of $1,000 each. Your bank has offered to allow you to skip making the next two payments in lieu of making one large payment at the end of the loan?s term in three years. If the interest rate on the loan is 5%, what final payment will the bank require you to make so that it is indifferent between the two forms of payment?

Problem 4-13 You have a loan outstanding. It requires making three annual payments at the end of the nex three years of $1,000 each. Your bank has offered to allow you to skip making the next tw payments in lieu of making one large payment at the end of the loan's term in three years. I the interest rate on the loan is 5%, what final payment will the bank require you to make s that it is indifferent between the two forms of payment? Annual payment Interest rate Number of payments Future value -$1,000 5.00% 3 $3,152.21 Requirement . In cell C10, by using cell references, calculate the future value of the three year annuity. ts at the end of the next ip making the next two s term in three years. If require you to make so three year annuity