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An amount of $15,000 is borrowed from the bank at an annual interest rate of 11%. a. Calculate the equal end-of-year payments required to completely pay off the loan in 4 years. b. Calculate the repayment amounts if the loan ($15,000) will be repaid in two equal installments of $7,500 each, paid at the end of second and fourth years respectively. Interest will be paid each year. Click the icon to view the interest and annuity table for discrete compounding when i= 11% per year. a. The equal end-of-year payments required to pay off the loan in 4 years are $ the nearest dollar.) per year. (Round to N 1 2 3 4 5 6 7 8 Discrete Compounding; i = 11% Single Payment Uniform Series Compound Compound Sinking Amount Present Amount Present Fund Factor Worth Factor Factor Worth Factor Factor To Find F To Find P To Find F To Find P To Find A Given P Given F Given A Given A Given F F/P P/F FIA P/A A/F 1.1100 0.9009 1.0000 0.9009 1.0000 1.2321 0.8116 2.1100 1.7125 0.4739 1.3676 0.7312 3.3421 2.4437 0.2992 1.5181 0.6587 4.7097 3.1024 0.2123 1.6851 0.5935 6.2278 3.6959 0.1606 1.8704 0.5346 7.9129 4.2305 0.1264 2.0762 0.4817 9.7833 4.7122 0.1022 2.3045 0.4339 11.8594 5.1461 0.0843 2.5580 0.3909 14.1640 5.5370 0.0706 2.8394 0.3522 16.7220 5.8892 0.0598 Capital Recovery Factor To Find A Given P A/P 1.1100 0.5839 0.4092 0.3223 0.2706 0.2364 0.2122 0.1943 0.1806 0.1698 9 10

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