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QUESTION 4 John takes out a loan of $150,000 to buy a house. He is offered a 15-year loan by the bank, at an interest rate of 5% per year. That is, John must pay for the house with 15 equal annual 1. Finstallments, with an interest rate of 5%. What is the annual loan payment John must make? A. $17,160 B. $17,812 c. $14,451 D. $13,526

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solution: factor working * PVIFA(596,15) | (1-(1.05a-15))/0.05 formula | 10.37966 | Loan /PVIFA(596,15) | 10.37966 Annual payment 14,451 150,000 4 トト11 Sheet1 159 Sheet1 160 Sheet1 161 Sheet1162 (Sheet1 163 / Sheet1 164 Sheet1 165 」 Sheet1 166, 忙.all ENG 21:21 US 24/01/2019

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