Consider an amortized loan of $41,000 at an interest rate of 6.6% for 6 years. How much will your annual payments be? Round to the nearest dollar.
8.Consider an amortized loan of $45,000 at an interest rate of 7.6% for 9 years. What is the total interest owed? Round to the nearest dollar.
10. Suppose you are borrowing $44,000 at an interest rate of 2.9%. You will not make any payments for the first two years. Then, starting at the end of year 3, you will make 6 annual payments to repay the loan. How much will your annual payments be? Round to the nearest dollar.