2) Consider an amortized loan at a nominal rate of 8% compounded monthly that will be re-paid over 15 monthly payments starting at the end of the month. The first 5 payments are $650 each, the next 5 are $500 each, and the final 5 are $250 each. a) What is the initial loan amount? b) Find the outstanding balance just after one year (12 payments) c) How much of payment 13 will be paid on principal