Five years ago you borrowed $250,000 for a ten-year period at a fixed interest rate of 9%

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Five years ago you borrowed $250,000 for a ten-year period at a fixed interest rate of 9% p.a. with interest compounded on an annual basis. You have been making regular annual payments on your loan and you now wish to repay the amount outstanding on this loan in full. The total amount you need to repay today isclosestto:

(May I have the workings too please, thank you so much)

$151,521.

$168,850.

$194,775.

$217,051.

Posted Date: May 19, 2024 04:06 PM

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Five years ago you borrowed $250,000 for a ten-year period at a fixed interest rate of 9%

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