Assume a Five-Year Equal Payment Amortization Schedule with an Annual

question 47

Multiple Choice

Assume a five-year equal payment amortization schedule with an annual interest rate of 7% and annual payments.If the beginning principal is $8,000,then the first interest payment will be how large?

• A)$560.00
• B)$960.00
• C)$1,219.28
• D)There is not enough information to answer this question.

---

Definitions:

Negative Connotation

A term or phrase that evokes a negative emotional response or association.

Negative Word

A word that expresses a denial, disagreement, or negation, often used to construct negative sentences or convey pessimistic ideas.

Positive Psychology

A branch of psychology that studies how to help people thrive.

Daily Communications

Regular interactions and exchanges of information that occur on a daily basis, potentially involving various methods or channels.