Question: Determine the equal annual end-of-year payment required for each year over the life of the following loan to replay it fully during the stated

Determine the equal annual end-of-year payment required for each year over the life of the following loan to

Determine the equal annual end-of-year payment required for each year over the life of the following loan to replay it fully during the stated term. Loan Principal amount $15,000 Interest Rate 10% (compounded annually) Term of Loans 5 years (Choose the closest answer.) Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a b $1,029 $1,917 $3,957

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