1) Lilly agreed to repay a loan of $21,000 with payments of $500 per month. Using an interest rate of j₁₂=3.6%, calculate the amount of principal repaid during the second year of the loan.

2) Ace Industries borrowed $150,000 amortized over 10 years at a rate of j₁₂=4.8% with monthly payments (rounded up to the next cent). Calculate their final payment.