1. Shyes Auto Repair Shop borrowed $20,000 to be repaid by monthly payments of $500 at the end of each month. If the interest rate on the loan is 19% compounded quarterly, determine:

(a) How many payments are required to pay off the loan (Find n)?

(b) What is the size of the last payment?

(c) What is the amount of interest paid in the 15^th payment?

(d) How much principal is repaid in the 16^th payment?

(e) How much is still owing after 2 years?