document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1192907>Question 1192907</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A loan of $ 10,000 is amortized by equal annual payments for 30 years at an effective annual interest rate of 11 %. Determine the year in which the interest portion of the payment is most nearly equal to one-fifth of the payment.\r<BR>\n" );
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document.write( "The year that the interest portion of payment is most nearly equal to one-fifth of the payment = <BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #825064 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=825064\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> present value of the loan is 10,000<BR>\n" );
document.write( "loan period = 30 years<BR>\n" );
document.write( "interest rate = 11% per year.\r<BR>\n" );
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document.write( "year in which the interest payment is most nearly equal to one-fifth of the payment appears to be the end of year 29.\r<BR>\n" );
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