You Need to Repay a Loan with a Future Value

Multiple Choice

You need to repay a loan with a future value of $304,071.00 in 17.5 years.If you can make annual year-end deposits of $12,000 into an account,what annual rate of return would you require to earn enough money to pay the loan in full at the due date?

A) 7.92%
B) 8.73%
C) 4.39%
D) 4.30%