Question: without using Excel .. only by a formula or Texas instruments QUESTION 8 Saved $100, 000 occurring one month from today Level annual repayments of

without using Excel .. only by a formula or Texas instruments

QUESTION 8 Saved $100, 000 occurring one month from today Level annual repayments of $9,456 are made for as long as needed to pay off the remaining balance of the loan, where the first annual repayment is made at the end of Year 11. The annual effective interest rate is 9.2% Calculate the total number of repayments necessary to pay off the loan. loan is made Monthly interest-only repayments are made for 10 years, the first repayment 1. 133 2. 140 3. 147 4. 154 . 5. 161

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