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11. (3 + 3 + 3 + 1 points) Hafsa wants to take a loan to open a new business. The bank charges 3 %

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11. (3 + 3 + 3 + 1 points) Hafsa wants to take a loan to open a new business. The bank charges 3 % compounded monthly. To amortize this laon, she is willing to pay monthly payments of 2000 QR for 10 years. (a) Find the amount of loan she can borrow? (b) Find the total amount of interest paid when the loan is amortized over 10 years. (c) According to the above, what is the unpaid balance after 50 monthly pay- ments have been made? (e) Complete the amortization table below. Payment Period Payment Amount Interest Deduction Principal 49 129,962.80 50 2000

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