3. You borrow $15,000 at 7% APR. You will repay this loan in equal annual payments, at the end of each year, and repay this loan in 5 years. What is the equal, annual payment?

4. Invest $2,500 at the beginning of each quarter for 4 years at 8% APR, compounded quarterly. How much will you have at the end of 4 years?

Answer rating: 100% (QA)

To solve these two financial problems we will use the formulas for calculating equal annual payments ... View the full answer