1. In return for a loan of 100 a borrower agrees to repay 110 after seven months. (a) Find the rate of interest per annum. (b) Find the rate of discount per annum. (c) Shortly after receiving the loan the borrower requests that he be allowed to repay the loan by a payment of 50 on the original settlement date and a second payment six months after this date. Assuming that the lender agrees to the request and that the calculation is made on the original interest basis, find the amount of the second payment under the revised transaction.