Problem
Five annual payments at an interest rate of 9% are made to repay a loan of $6000. Build the table that shows the balance due, principal payment, and interest payment for each payment. What is the annual payment? (Use a spreadsheet function, not the tables.) What interest is paid in the last year?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.