An amortized loan has 10 annual payments at the end of each year starting one year from now. The first 5 payments are $1000 each and the final 5 payments are $500 each. Interest is at an effective annual rate of 10 %. Find each of the following: 31.1 3.1.11 Example 3.1 is modified so that monthly payments are made for 12 years starting one month after the loan. The monthly payment is K for the first 6 years (72 payments) and 2K for the last 6 years (72 payments) (a) Find K and construct the amortization table for the first year. (b) Verify that the result in Exercise 3.1.7 applies here, although the PR amounts are negative during this period. (c) Using monthly payment amounts rounded to the nearest penny, find the amount of the final payment required at t144 to retire the debt. An amortized loan has 10 annual payments at the end of each year starting one year from now. The first 5 payments are $1000 each and the final 5 payments are $500 each. Interest is at an effective annual rate of 10 %. Find each of the following: 31.1 3.1.11 Example 3.1 is modified so that monthly payments are made for 12 years starting one month after the loan. The monthly payment is K for the first 6 years (72 payments) and 2K for the last 6 years (72 payments) (a) Find K and construct the amortization table for the first year. (b) Verify that the result in Exercise 3.1.7 applies here, although the PR amounts are negative during this period. (c) Using monthly payment amounts rounded to the nearest penny, find the amount of the final payment required at t144 to retire the debt