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  3. suppose you take a 7 year loan of $20,000 with an

Suppose you take a 7 year loan of $20,000 with an interest rate of 6%...

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Suppose you take a 7 year loan of $20,000 with an interest rate of 6% and annual payments starting at the end of year 1. What are the annual loan payments? Enter your response below. 3582.70 Correct response: 3,582.741 Click "Verify" to proceed to the next part of the question. The loan payments are $3582.70 per year. Suppose you decide to pay off the loan at time 3. How much would you have to pay (including the time 3 payment), assuming there are no penalties for early repayment? Enter your response below. Number

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