A firm purchases 150 acres of land for $195,000 and agrees to remit 17 equal annual end-of-year installments of $25,831.94 each. What is the true annual interest rate on this loan?

A loan in the amount of 300,000 is repaid with 20 end of year payments containing equal principal. The annual effective interest rate isi, and the total interest paid during the life of the loan is 250,000 . Just after the 10 th payment is made, the loan is renegotiated. There will now be 10 end of year payments ofXwith the annual effective interest rate remaining ati. Find the outstanding loan balance just after the 11th payment.

The payment necessary to amortize a 4.5% loan of $81,000 compounded annually, with 5 annual payments is $18,451.12. The total of the payments is $92,255.60 with a total interest payment of $11,255.60. The borrower made larger payments of $19,000.00. Calculate​ (a) the time needed to pay off the​ loan, (b) the total amount of the​ payments, and​ (c) the amount of interest saved. Thank you~

Island News purchased a piece of property for $1.82 million. The firm paid a down payment of 20 percent in cash and financed the balance. The loan terms require monthly payments for 20 years at an APR of 4.00 percent, compounded monthly. What is the amount of each mortgage payment?