1. A loan at a nominal annual interest rate compounded monthly i(12) = 12% is repaid with 120 monthly payments starting one month after the loan. The monthly payments are 500. (a) Find the amount of the loan. (b) Find the total interest paid. (c) Find the interest paid in the tenth payment. (d) Find the principle repaid in the twentieth payment. (e) Find the outstanding balance after the thirtieth payment using the prospective approach. (f) Find the outstanding balance after the fortieth payment using the retrospective approach