Question: Question 5 15 pts Given the following information: Initial Loan Amount =$36,200 Interest Rate =6% Fully amortized loan over 10 years. i. What is the

Question 5 15 pts Given the following information: Initial Loan Amount

Question 5 15 pts Given the following information: Initial Loan Amount =$36,200 Interest Rate =6% Fully amortized loan over 10 years. i. What is the annual loan payment? a. $12,679.61 b. $6,323.72 c. $4,918.42 d. $9,565.38 Enter your response here i. What is the remaining principal balance on the following loan at the end of 4 years? a. $63,636.01 b. $36,200.00 c. $24,185.47 d. $27,308.94 Enter your response here

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