1. A car priced at $3,000 is brought on 10% down payment with the balance to be repaid by monthly instalments over 3 years at 14% p.a. flat. a) Calculate the monthly instalment. b) Using Excel create a complete repayment schedule for this loan using the Rule of 78. c) Calculate the annual effective rate of interest being charged. d) Using Excel create a complete repayment schedule for this loan using the compound interest method. e) If the car is paid off just after the 12th instalment has been made, find the amount needed using: i) Rule of 78 ii) Compound interest method