Consider the following loan. The term of the loan is for sixteen years, and the annual interest rate is 6.8% compounded annually. The amortization method is used to pay off the loan, and the payments are made at the end of each year. The annual payment is $7300.

a) Find the original amount of the loan.

b) Find the portion of the first payment that goes for interest.

c) Find the portion of the first payment that goes for principal.

d) Find the outstanding balance after the fifth payment.

e) Find the portion of the sixth payment that goes for principal.