Question: i already asked this question and got a bad answer. Can I get refunded a question it's kinda rediculous I only get a small amount

i already asked this question and got a bad answer. Can I get refunded a question it's kinda rediculous I only get a small amount of questions and then they wont correct the answer unless you submit a entirely new one. Please make sure this is correct.

i already asked this question and got a bad answer. Can I

Ian loaned his friend $45,000 to start a new business. He considers this loan to be an investment, and therefore requires his friend to pay him an interest rate of 9% on the loan. He also expects his friend to pay back the loan over the next four years by making annual payments at the end of each year. Ian texted and asked that you help him calculate the annual payments that he should expect to receive so that he can recover his initial investment and earn the agreed-upon 996 on his investment. Calculate the annual payment and complete the following capital recovery schedule: Beginning Amount Interest Paid $4,050.00 Principal Paid Year Payment Ending Balance 1 $45,000.00 4 $0.00

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!