5.3 Assignment 1. Ami Aigen borrows $1000 for 1 year at 12% annual interest compounded monthly Verify that her monthly loan payment is 588 8488, which is rounded to SAR S. After making the payments, she decides to pay off the remaining balance all at once. How much must she pa 1000-261.15 = 735.85 88.81881-(1.01 (725.25X1.01) 0735.85311.63630) = 758.15 L 0.01 8805 1-970 +260.15 Lool =26 2. Determine the exact amount Ami Aigen in Problem 1 owes after three monthly payments Amount of Payment Payment Number Interest for Period Portion to Principal Principal at the end of Period. q=R-IP AzPor