##### Homework question help needed

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet \$5

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

12000/4=3000 per year

3000*11.5%=345

annual payment is 345+3000=3345\$

Jun 24th, 2015

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

Jun 24th, 2015

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

...
Jun 24th, 2015
...
Jun 24th, 2015
Oct 22nd, 2017
check_circle