An $800,000 demand loan was taken out on March 31 from the CIBC Bank at a cost of 9% p.a. The demand loan agreement provided for a final payment on December 26, and payments of $400,000 on June 15 and $300,000 on October 17. Using the declining balance method, how much must be paid on December 26? (8 marks)

a. how much is owing on June 15^th after the payment?

b. how much is owing on Oct 17^th after the payment?

c. how much is the last payment on Dec 26th?