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Compare the total amount of interest that would be paid on a $4,000 loan over a 7-year period with an effective rate of interest of 6.8% per annum, under each of the following repayment plans: (a) The entire loan plus accumulated interest is paid in one lump sum at the end of 7 years. Answer = $ 6339.55 X (round your answer to two decimal places.) (b) Interest is paid each year as accrued, and the principal is repaid at the end of 7 years. Answer = $ 1904 (round your answer to two decimal places.) (c) The loan is repaid with level payments at the end of each year over the 7-year period. Answer = $ 737.05 x (round your answer to two decimal places.) 2/3 points | Previous Answers compare the total amount of interest that would be paid on a $4,000 loan over a 7-year period with an effective rate of interest of 6.8% per annum, under each of the following repayment plans (a) The entire loan plus accumulated interest is paid in one lump sum at the end of 7 years. Answer = $ 2339.55 (round your answer to two decimal places.) (b) Interest is paid each year as accrued, and the principal is repaid at the end of 7 years. Answer = $ 1904 (round your answer to two decimal places.) (c) The loan is repaid with level payments at the end of each year over the 7-year period. Answer = $ 334.22 X (round your answer to two decimal places.) Submit Answer Practice Another Version Submit Assignment Compare the total amount of interest that would be paid on a $4,000 loan over a 7-year period with an effective rate of interest of 6.8% per annum, under each of the following repayment plans: (a) The entire loan plus accumulated interest is paid in one lump sum at the end of 7 years. Answer = $ 6339.55 X (round your answer to two decimal places.) (b) Interest is paid each year as accrued, and the principal is repaid at the end of 7 years. Answer = $ 1904 (round your answer to two decimal places.) (c) The loan is repaid with level payments at the end of each year over the 7-year period. Answer = $ 737.05 x (round your answer to two decimal places.) 2/3 points | Previous Answers compare the total amount of interest that would be paid on a $4,000 loan over a 7-year period with an effective rate of interest of 6.8% per annum, under each of the following repayment plans (a) The entire loan plus accumulated interest is paid in one lump sum at the end of 7 years. Answer = $ 2339.55 (round your answer to two decimal places.) (b) Interest is paid each year as accrued, and the principal is repaid at the end of 7 years. Answer = $ 1904 (round your answer to two decimal places.) (c) The loan is repaid with level payments at the end of each year over the 7-year period. Answer = $ 334.22 X (round your answer to two decimal places.) Submit Answer Practice Another Version Submit Assignment

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