loan amount= $1,154.11
Contractual Rate=9.96%
conversion periods=1
life of loan(yrs)=2
method of payment=equal principal
fee=no
stock requirement=no
i) calculate the total loan payment for yr 1
a. $692.80
b. $692.01
c. $664.63
d. $664.66
ii) calculate the total loan payment in yr 2
a. $634.78
b. $664.63
c. $634.53
d. $665.28
iii) calculate the actuarial rate
a. 9.96%
b. 10.75%
c. 8.97%
d. 10.88%