A loan of $100,000 is made today. This loan will be repaid by 10 level repayments, followed by a final smaller repayment, i.e., there are 11 repayments in total.

The first of the level repayments will occur exactly 2 years from today, and eachsubsequent repayment (including the final smaller repayment) will occur exactly1 year after the previous repayment. Explicitly, the final repayment will occurexactly 12 years from today.

If the interest being charged on this loan is 4.3% per annum compounded half-yearly, and the final smaller repayment is $100,

(b) Calculate the loan outstanding exactly 11 years from today.