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You receive a 3-year $19,000 loan with an interest rate of 7% p.a., to be repaid in three annual installments. The loan requires that you
You receive a 3-year $19,000 loan with an interest rate of 7% p.a., to be repaid in three annual installments. The loan requires that you make two equal total payments of $2,000 at t=1 and t=2, with the remaining loan balance paid at maturity. What is the total payment amount at t =3, rounded to the nearest dollar? 20 points QUESTION 2 You receive a 4-year $29,000 loan with an interest rate of 7% p.a., to be repaid in four annual installments. The loan requires that you make total payments of $5,000 at t=1,$2,000 at t=2, and $3,000 at t=3, with the remaining loan balance paid at maturity. What is the total payment amount at t=4, rounded to the nearest dollar
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