In Aug. $2007,$ Irene Engels borrowed $$50,000,$ and she borrowed another $$50,000$ in Aug. $2008,$ for

Education. Her student loan has an annual interest rate of $2\%$ compounded monthly. Irene didn$$t

make any payments on her student loan until she started a lucrative job in Sep. $2009,$ when she started

to make a payment of $$1,000$ at the end of every month. Now bonus time is coming near. For Jan.

$2010,$ she plans to make another $$1,000$ payment $($her $5$th$)$ and also apply her bonus to the loan. How

big must her bonus be so that she will have completely paid$-$off the loan at the end of this Jan.

Requirement: draw a cash flow diagram and using BA II Plus calculator to answer