Question: Assume you borrow $ 1 0 , 0 0 0 from the bank and promise to repay the amount in 5 equal installments beginning one

Assume you borrow $10,000 from the bank and promise to repay the amount in 5 equal installments beginning one year from today. The stated interest rate on the loan is 5%. What is the unknown variable in this problem?
Multiple choice question.
The number of periods
The future value
The payment amount
The present value of the annuity

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