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You are considering borrowing $100,000 for 30 years at a compound annual interest rate of 9%. The loan agreement calls for 30 equal annual payments, to be paid at the end of each of the next 30 years.
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You are considering borrowing $100,000 for 30 years at a compound annual interest rate of 9%. The loan agreement calls for 30 equal annual payments, to be paid at the end of each of the next 30 years. (Payments include both principal and interest.)

Required:
What is the annual payment that will fully amortize the loan?

User Taimur Aziz
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1 Answer

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10 votes

Answer:

Fed signals interest rate hike could come 'soon' as inflation rages

Step-by-step explanation:

Fed signals interest rate hike could come 'soon' as inflation rages: The Federal Reserve on Wednesday signaled it could "soon" raise interest rates for the first time in three years, paving the way for a March liftoff as policymakers seek to keep prices under control and combat the hottest inflation in nearly four decades. #accelerationism

User Matt Fichman
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