Payments on a Jan. 1, 1995 40,000 loan are as follows: 1/1/96 5,000 1/1/97 5,000 1/1/98 5,000 On July 1, 1998 an additional 10,000 is paid on the loan and no more payments are made. If {{d}^{(4)}=0.1} how much is owed on the loan on Jan. 1, 2005?

Amount$55,386.92

Explanation:

We solve for the outstanding amount after July 1998 payment and then future value until Jan 1st 2005:

BeginningPaymentInterestCarrying value

199540000          4000     44000

199644000-50003900     42900

199742900-50004290      42190

199842190-50002109.5     39299.5

199839299.5-100001964.975     31264.475

Now, we calculate the future value from Jan 1999 to Jan 2005:

Principal31,264.48

time6.00

rate0.10000

Amount55,386.92

answer: most likely c

explanation:

answer; it can vividly demonstrate product attributes and persuasively explain their corresponding consumer benefits;