Sam Robinson borrowed $10,000 from a friend and promised to pay the loan in 10 equal annual installments beginning one year from the date of the loan. Sam’s friend would like to be reimbursed for the time value of money at a 9% annual rate. What is the annual payment Sam must make to pay back his friend?

Jeffery Wei received a 7-year non-subsidized student loan of $31,000 at an annual interest rate of 5.9%. What are Jeffery's monthly loan payments for this loan after he graduates in 4 years? (Round your answer to the nearest cent.)

Carol borrows $30, 000 from the bank. For a six-year loan, the bank requires annual end-of-year payments of $5, 878.05. The annual interest rate on the loan is?

Rob asks his good friend Ted to borrow $5,000 and says he will pay it back to him in 6 months with 8% interest, meaning Rob will owe Ted $5,200 if he pays it back at that time.  Ted asks Rob to "make" a promissory note payable to Ted stating these terms.  Rob does prepare the "note" and signs and gives it to Ted and at the same time Ted gives Rob the $5,000.  Ted in need of money unexpectedly, because he loses his job, contacts his buddy Gullible, and asks him if he will buy the note at a discount of $4,800.  Gullible accepts and stands to make a nice profit when the note owed by Rob comes due. When Gullible gives Ted the $4,800, Ted writes on the note "Without Recourse" and signs his name and tenders the note to Gullible.  Gullible does see Ted write this on the note, but is not sophisticated with regard to legal lingo, and thinks nothing of it.  He therefater gets nervous and thinks maybe he should sell the note himself right away.  He calls his aunt Saviour who says she will buy the…