3.4 You are about to borrow $10,000 from a bank at an interest rate of 10% compounded annually. You are required to make five equal annual repayments in the amount of $2,638 per ycar, with the first repayment occurring at the end of year 1. Show the interest payment and principal payment in each year. 3.15 You bought 300 shares of General Electric (GE) stock at $3,200 on April 30, 2009. Your intention is to keep the stock until it doubles in value. If you expect 8% annual growth for GE stock, how many years do you anticipate holding onto the stock? Compare your answer with the solution obtained by the Rule of 72 (discussed in Example 3.10)