Upon graduation, Jeffrey Feldhusen borrows $13,100 to finance alate model used car. The loan is made by a family member who wishesto have equal annual payments at 12 % over 4 years. Click here to access the TVM Factor Table Calculator

How much are the annual payments? $ Carry all interim calculations to 5 decimal places andthen round your final answer to the nearest dollar. The toleranceis ±5.

How many total dollars of interest does Jeffrey pay over thelife of the loan? $    Carry all interim calculations to 5 decimal places andthen round your final answer to the nearest dollar. The toleranceis ±5.

How much of the second payment goes to pay interest? $ Carry all interim calculations to 5 decimal places andthen round your final answer to the nearest dollar. The toleranceis ±5.

How much of the second payment goes to pay principal? $ Carry all interim calculations to 5 decimal places andthen round your final answer to the nearest dollar. The toleranceis ±5.

Develop a table. Year Beginning Balance Loan Payment Interest Payment Principal Payment Ending Balance 1 $ $ $ $ $ 2 $ $ $ $ $ 3 $ $ $ $ $ 4 $ $ $ $ $ Carry all interim calculations to 5 decimal places andthen round your final answer to the nearest dollar. The toleranceis ±5. Do your answers to Parts a, c, and d agree? NoYes