You take out a bank loan today for $6,000 . You will repay the loan with two equal payments in years 4 and 5 . If the loan interest rate is 5.00% compounded annually, how big are the payments?

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asked Dec 6, 2019 86.7k views

4 votes

You take out a bank loan today for $6,000 . You will repay the loan with two equal payments in years 4 and 5 . If the loan interest rate is 5.00% compounded annually, how big are the payments?

Business
high-school

Chris Holwerda asked

by Chris Holwerda

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you should know the pay ments are realy big

Max answered Dec 12, 2019

by Max

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