Jeremy takes a bank loan for $134,000 at 5% interest. He plans to repay the loan with level annual payments and has been presented with some options by his bank. In each case find his annual payment and the total amount of interest he pays. ***but like please no computer spreadsheet things***

a) Seven annual payments starting in one year.

b) Seven annual payments starting immediately.

c) Five annual payments starting in one year.

d) Five annual payments starting immediately.

e) Ten annual payments starting in one year.