Jia borrows $50,000 at 10 percent annually compounded interest to be repaid in four equal annual...

Jia borrows $50,000 at 10 percent annually compounded interest to be repaid in four equal annual installments. The actual end-of-year loan payment is

Expert Solution

The actual end of year loan payment is:-

=PMT(rate,nper,pv)

=PMT(10%,4,50000)

=15773.54

Where,

rate is periodic rate,

nper is no of periods,

pv is present value

jeff jeffy answered 2 years ago

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