5. Valerie takes out a loan of 2000 at an annual effective interest rate of i. You are given: (i.) The first payment is made at the end of year 6; (ii.) 10 equal annual payments are made to repay the loan in full at the end of 15 years (i.) The outstanding principal after the 5th payment is 1158. 695 444. (a) Calculate the total interest paid over the life of the loan. Interest Paid + (b) Check your answer in (a) by verifying Total Paid Principal Paid. 5. Valerie takes out a loan of 2000 at an annual effective interest rate of i. You are given: (i.) The first payment is made at the end of year 6; (ii.) 10 equal annual payments are made to repay the loan in full at the end of 15 years (i.) The outstanding principal after the 5th payment is 1158. 695 444. (a) Calculate the total interest paid over the life of the loan. Interest Paid + (b) Check your answer in (a) by verifying Total Paid Principal Paid