question archive Loan payment Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan
Loan payment Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan
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Loan payment Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan. (Click on the icon located on the top-right comer of the data table below in order to copy its contents into a spreadsheet.) Principal $21,000 Interest rate 8% Term of loan (years) 9 (Round to the nearest cent.) The amount of the equal, annual, end-of-year payment, CF. is $
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