You want to borrow $10,000. You figure that you can make the following payments. If the interest rate on the loan is 8.9% per year, will your payments be enough to pay off the $10,000 loan? Year Payment 1 $1,960 (Select from the drop-down menus.) The present value of your payments is loan. 2 $2,900 3 $3,370 the amount of the loan, so you 4 $4,246 be able to pay off the

You want to borrow $10,000. You figure that you can make the following payments. If the interest rate on the loan is 8.9% per year, will your payments be enough to pay off the $10,000 loan? (Select from the drop-down menus.) The present value of your payments is the amount of the loan, so you be able to pay off the loan