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You have taken out a loan of $11,000 for 4 years with an interest rate of 4% compounded annually. The loan will be repaid by

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You have taken out a loan of $11,000 for 4 years with an interest rate of 4% compounded annually. The loan will be repaid by end of year payments. Fill in all the boxes below, and round all entries to the nearest cent. Enter only positive values for ALL ANSWERS. Annual payment: \$ \begin{tabular}{|c|c|c|c|c|} \hline \begin{tabular}{l} Payment \\ Number \end{tabular} & Amount Paid & Interest Paid & \begin{tabular}{l} Principal \\ Repaid \end{tabular} & \begin{tabular}{l} Outstanding \\ Balance \end{tabular} \\ \hline 0) & & & & $11,000 \\ \hline 1) & $ & $ & $ & $ \\ \hline 2) & same as above & $ & $ & $ \\ \hline 3) & same as above & $ & $ & $ \\ \hline 4) & $ & $ & $ & $ \\ \hline Total & s & $ & s & \\ \hline \end{tabular}

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