A 12 -year loan of L is repaid with a payment at the end of each year. During the first six years, the payment is 50. During the final six years, the payment is 250. Interest is charged on the loan at an annual effective rate of i, such that 1/(1+i)6>0.4. After the first payment of 50 is made, the outstanding principal is L+11. Calculate the outstanding balance on the loan immediately after the sixth annual payment of 50 has been made. 1,240 1,252 1,264 1,423 1,438 Seth, janice, and Lori each borrow 15,000 for eight years at an annual nominal interest rate of 5.7\%6, compounded semi-annually. Seth has interest accumulated over the eight years and pays all the interest and principal in a lump sum ot the end of eight years. Janice pays interest at the end of every six-month period as it accrues and the principal ot the end of eight years. Lori repays her loan with 16 level payments at the end of every six-month period. Calculate the total amount of interest paid on all three loans. 17,49718,65418,80019,24419,286