Please use financial calculator if possible A bank just approved your small business...
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Finance
Please use financial calculator if possible
A bank just approved your small business loan for $20,000. The loan has an interest rate of 10.0% and will be repaid with 10 end-of-year payments. What is the required annual loan payment?
$4,373.14
$3,396.03
$3,642.15
$3,116.40
$3,254.91
Halfway through the loan's life, what is the loans remaining balance?
$12,339
$17,342
$14,736
$11,122
$16,551
What percentage of the total payments made during the first five years will be made toward interest?
43.64%
56.13%
52.93%
39.34%
49.44%
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