Calculate the payment required for each of the loans listed below. Assume that all loan payments are made at the end of the period described
Principal Annual
interest rate Term Payments
made Amount of
each payment
1. $50,000 7% 5 years annually $
2. $50,000 6% 5 years annually $
3. $50,000 8% 10 years annually $
4. $50,000 8% 10 years semiannually $
5. $50,000 12% 2 years monthly $
1. $12,194.53 = $50,000 / 4.10020
2. $11,869.83 = $50,000 / 4.21236
3. $7,451.48 = $50,000 / 6.71008
4. $3,679.09 = $50,000 / 13.59033 (Interest rate has been adjusted to 4% for 20 periods)
5. $2,353.67 = $50,000 / 21.24339 (Interest rate has been adjusted to 1% for 24 periods)
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