Question: Jack borrows $10,000 to be repaid in 6 equal year-end amounts over 6 years. If the interest rate is 5.5% per annum compounded quarterly, Jack's

Jack borrows $10,000 to be repaid in 6 equal year-end amounts

Jack borrows $10,000 to be repaid in 6 equal year-end amounts over 6 years. If the interest rate is 5.5% per annum compounded quarterly, Jack's annual repayment is (rounded to nearest dollar; don't include the $ sign or commas)

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