Question: Seth borrows X for ten years at an annual effective interest rate of 4%, to be repaid with equal payments at the end of

Seth borrows X for ten years at an annual effective interest rate

Seth borrows X for ten years at an annual effective interest rate of 4%, to be repaid with equal payments at the end of each year. The outstanding loan balance at the end of the eighth year is 579.01. Calculate the princip repaid in the second payment. O 440 O 450 O 460 O 470 O 480 QUESTION 2 QUESTION 3 Tanner takes out a loan today and repays the loan with ten level annual payments, with the first payment one year from today. The payments are calculated based on an annual effective terest rate of 4.7%. The principal portion of the fourth payment is 703,45. Calculate the total amount of interest paid on this loan. O 1700 O 1800 O 1900 O 2000 O2100

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