A loan of 20,000 is being paid by installments of 1000 at the end of each six month period and a final smaller payment made half a year after the last regular payment. The interest rate for the loan is a nominal interest rate of 6% convertible semi-annually.

a. Find the outstanding loan balance when the borrower has made payments equal to 90% of the original amount of the loan.

b. Find the number of payments needed for the borrower to pay o his/her debt.

c. Find the amount of the final payment.

d. Find the total interest paid throughout the duration of the loan period