5. A $45,000 loan at 7% compounded semi-annually is to be repaid by $1,375 end-of quarter payments over 12 years. What is the final payment on the loan (follow the steps below)? (5 marks) Hint: You need to calculate the 2nd to last payment for the loan balance and annuity payment. a. Identify the following values: CY= PY = N (number of compounds) = N (number of payments) = i = b. Calculate FV of the 45,000 loan. c. Calculate the Future Value (FV) of the annuity. d. Calculate the interest on the balance for the last payment. e. Calculate the final/last payment (this is the answer to the question). 5. A $45,000 loan at 7% compounded semi-annually is to be repaid by $1,375 end-of quarter payments over 12 years. What is the final payment on the loan (follow the steps below)? (5 marks) Hint: You need to calculate the 2nd to last payment for the loan balance and annuity payment. a. Identify the following values: CY= PY = N (number of compounds) = N (number of payments) = i = b. Calculate FV of the 45,000 loan. c. Calculate the Future Value (FV) of the annuity. d. Calculate the interest on the balance for the last payment. e. Calculate the final/last payment (this is the answer to the question)