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You have taken out a loan of $ 2 2 , 0 0 0 for 4 years with an interest rate of 5 % compounded
You have taken out a loan of $ for years with an interest rate of 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: $
Payment Number Amount Paid Interest Paid Principal Repaid Outstanding Balance
$
$ $ $ $
same as above $ $ $
same as above $ $ $
$ $ $ $
Total $ $ $
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