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: (ii.) 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: (ii.) 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