(b) A loan of $10,000 is to be amortized in 10 level annual payments of $1,295.05 with an annual effective interest rate of 5%. (i) Find the outstanding balance immediately after 4 payments have been made using the prospective method. You may leave your answer in actuarial notation. [3] (ii) Find the outstanding balance immediately after 6 payments have been made using the retrospective method. You may leave your answer in actuarial notation. [3]