(1 point) (Exercise 5.31) A borrows $2700 at an effective rate of interest of 11% per annum and agrees to repay the loan with payments at the end of each year. The first payment is to be $300 and each payment thereafter is to be 3% greater than the preceding payment, with a smaller final payment made one year after the last regular payment. a) Find the outstanding loan balance at the end of 2nd years. ANSWER =$ b) Find the principal repaid in the third payment. ANSWER =$