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A 5-Year Loan in the Amount of $169,000 Is to Be

Question 99

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A 5-year loan in the amount of $169,000 is to be repaid in equal annual payments.What is the remaining principal balance after the third payment if the interest rate is 3 percent,compounded annually?


A) $71,716.84
B) $58,294.24
C) $62,998.30
D) $68,677.70
E) $70,610.72 A 5-year loan in the amount of $169,000 is to be repaid in equal annual payments.What is the remaining principal balance after the third payment if the interest rate is 3 percent,compounded annually? A) $71,716.84 B) $58,294.24 C) $62,998.30 D) $68,677.70 E) $70,610.72 A 5-year loan in the amount of $169,000 is to be repaid in equal annual payments.What is the remaining principal balance after the third payment if the interest rate is 3 percent,compounded annually? A) $71,716.84 B) $58,294.24 C) $62,998.30 D) $68,677.70 E) $70,610.72

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