A loan is to be paid off in twenty annual installments of $100, with the first payment due one year after the loan is made. What is the total amount of principal paid in the even numbered installments, if the effective rate of interest is 4%?

Total amount of principal paid = $ 1,359.03

Explanation:

This method of loan repayment is known as loan amortization

Loan Amortization: A loan repayment method structured such that a series of equal periodic installments will be paid for certain number of periods to offset both the loan principal amount and the accrued interest.

The value of the loan can be worked as follows:

Loan amount = A× (1- (1+r)^(-n))/r

A- annual installment

r - annual interest rate

n- number of years,

Loan amount = ?

Loan amount = 100 × (1 - (1+0.04)^(-20) )/ 0.04

Loan amount = 1,359.032

Total amount of principal paid = $ 1,359.03

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants

answergoing to the symphony;