Homework question help needed

Accounting
Tutor: None Selected Time limit: 1 Day

You just took out a $12,000 loan for your small business. The loan has a 4 year term and repayment is in the form of 4 equal end-of-year payments. The interest rate on the loan is 11.5%. What are your annual loan payments?

Jun 24th, 2015

Thank you for the opportunity to help you with your question!

12000/4=3000 per year

3000*11.5%=345

annual payment is 345+3000=3345$

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jun 24th, 2015

This is not one of the mutiple choice answers given again?

Jun 24th, 2015

give me the multiples please

Jun 24th, 2015

30086.25


Jun 24th, 2015

345

Jun 24th, 2015

That is incorrect too

Jun 24th, 2015

$3909.29/ $3867.92/ $3144.83/ $3246.84/ $3287.78


Jun 24th, 2015

okay let me give you the answer i see now

Jun 24th, 2015

okay

Jun 24th, 2015

$3909.29

Jun 24th, 2015

send another one someone is working on that am free

Jun 24th, 2015

Okay, give me a few minutes. I can only get 1 question at a time

Jun 24th, 2015

okay

Jun 24th, 2015

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