Question: Suppose you take out a five - year, $ 7 , 0 0 0 loan at 6 percent interest that will be paid annually with

Suppose you take out a five-year, $7,000 loan at 6 percent interest that will be paid annually with a single, fixed payment each period. How much will be
the annual payment?
Multiple Choice
$627.88
$1,400.00
$313.98
$1,854.88
Suppose you take out a five-year, $7,000 loan at 6 percent

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