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You borrow money on a self liquidating installment loan $($equal payments at the end of each year, each payment is part principal part

interest$)$

Use the installment method $-$ not straight line

Do NOT round any interrmediate numbers.

Do NOT turn this into a monthly problem.

Do NOT put in minus signs, answer all positive numbers.

Required:

What is the annual payment $($round to the nearest $$)?$

$

What are the total interest payments $($round to the nearest $$)?$

$

After $24$ payments have been made, what percentage of the total interest has been paid $($round to the nearest percentage point$)?$

$|\%$

After $24$ payments have been made, what percentage of the total principal has been paid $($round to the nearest percentage point$)?$

$|\%$You borrow money on a self liquidating installment loan $($equal payments at the end of each year, each payment is part principal part

interest$)$

Use the installment method $-$ not straight line

Do NOT round any interrmediate numbers.

Do NOT turn this into a monthly problem.

Do NOT put in minus signs, answer all positive numbers.

Required:

What is the annual payment $($round to the nearest $$)?$

$

What are the total interest payments $($round to the nearest $$)?$

$

After $24$ payments have been made, what percentage of the total interest has been paid $($round to the nearest percentage point$)?$

$|\%$

After $24$ payments have been made, what percentage of the total principal has been paid $($round to the nearest percentage point$)?$

$|\%$

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