7 A loan is being repaid in 20 level annual installments. The first payment is at the end of the first year. The principal portion of the 11 payment is $109 and the interest portion is $23. Find the level annual payment R al 86 b) 109 127 dj 119 ) Determine the annual effective interest rate paid on the loan. a) 1.9% b) 1.8% c) 2.9% d) 2.6% e) 132 el 3.8% 8 Compute the PV of a perpetuity-immediate with a first payment of $1000 at the end of the first year and payments are increasing by 2% each year. The annual effective interest rate is 5.1%. c) 35,558 b) 32,258 a) 30,556 d) 45,256 e) 48,156 9. A 20-year loan of $100,000 is being repaid by level monthly payments at the end of each month. Find the total amount of interest paid on this loan if the interest rate is 9% compounded monthly. a) 45,956 d) 105,921 b) 65,556 c) 95,329 e) 115,934