Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate.

Annual payments of $3,600 are made for 12 years to repay a loan at 5.7 % compounded annually.

i=

n=

i = 5.7%

n = 12

Step-by-step explanation:

Compounded annually means once per year. So the rate per period is 5.7%, and the number of periods is 12.

i = 5.7%

n = 12

Step-by-step explanation:

i (the rate per period) and n (the number of periods) for the following loan at the given annual rate.

Annual payments of $3,600 are made for 12 years to repay a loan at 5.7 % compounded annually.

Therefore,

i = 5.7%

n = 12