You want to borrow $10,000. You figure that you can make the following payments. If the...

Transcribed Image Text:

You want to borrow $10,000. You figure that you can make the following payments. If the interest rate on the loan is 8.1% per year, will your payments be enough to pay off the $10,000 loan? Year 1 $2,100 2 $3,180 3 $3,320 4 $4,215 CF the amount of the loan, so you be able to pay off the loan. The present value of your payments is You want to borrow $10,000. You figure that you can make the following payments. If the interest rate on the loan is 8.1% per year, will your payments be enough to pay off the $10,000 loan? Year 1 $2,100 2 $3,180 3 $3,320 4 $4,215 CF the amount of the loan, so you be able to pay off the loan. The present value of your payments is