Problem 6-9 Calculating Annuity Values (LO2) Erindale Bank offers you a $57,000, six-year term loan at 8.0% annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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Chapter7: Using Consumer Loans
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Problem 6-9 Calculating Annuity Values (LO2)
Erindale Bank offers you a $57,000, six-year term loan at 8.0% annual interest. What will your annual loan payment be? (Do
not round intermediate calculations. Round the final answer to 2 decimal places.)
Annual loan payment
$
Transcribed Image Text:Problem 6-9 Calculating Annuity Values (LO2) Erindale Bank offers you a $57,000, six-year term loan at 8.0% annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $
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