how to find ia underlined in red?

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter1: Introduction To Algebra
Section1.5: Translating Sentences Into Equations
Problem 30WE
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how to find ia underlined in red?

A
A+4000
• 1507
A =
%3D
= 1234.
Vo = 8188.44
Transcribed Image Text:A A+4000 • 1507 A = %3D = 1234. Vo = 8188.44
2. Suppose the interest on a $10,000 debt is 8% compounding quarterly. You plan
on making 10 equal annual payments (from n=1 to n=10 where n counts years) to
pay off only part of the loan. At the end of the 10 annual payments, you still owe
$4000, so you add $4000 to the final payment to pay off the balance of the loan.
What are the annual payments you have made?
Transcribed Image Text:2. Suppose the interest on a $10,000 debt is 8% compounding quarterly. You plan on making 10 equal annual payments (from n=1 to n=10 where n counts years) to pay off only part of the loan. At the end of the 10 annual payments, you still owe $4000, so you add $4000 to the final payment to pay off the balance of the loan. What are the annual payments you have made?
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