$$Interest$-$only loan$($regular interest payments each year and principal at$$ maturity$).$Chuck Ponzi has talked an elderly woman into loaning him $$$$25$ comma $000$

for a new business venture. She$$ has, however, successfully passed a finance class and requires Chuck to sign a binding contract on repayment of the $$$$25$ comma $000$

with an annual interest rate of $6$

$\%$

over the next $5$

years. Determine the cash flow to the woman under an$$ interest$-$only loan, in which Ponzi will pay the annual interest expense each year and pay the principal back at the end of the contract.

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Part $1$

What is the amount of payment that the woman will receive at the end of years $1$ through $4$

$?$

$$$enter your response here

$$

$($Round to the nearest$$ dollar.$)$Interest$-$only loan $($regular interest payments each year and principal at maturity$).$ Chuck Ponzi has talked an elderly woman into loaning him $$25,000$ for a new business

venture. She has, however, successfully passed a finance class and requires Chuck to sign a binding contract on repayment of the $$25,000$ with an annual interest rate of $6\%$

back at the end of the contract.

What is the amount of payment that the woman will receive at the end of years $1$ through $4?$

$($Round to the nearest dollar.$)$