loan amount= $1,154.11

Contractual Rate=9.96%

conversion periods=1

life of loan(yrs)=2

method of payment=equal principal

fee=no

stock requirement=no

i)calculate the total loan payment for yr 1

a.$692.80

b.$692.01

c.$664.63

d.$664.66

ii)calculate the total loan payment in yr 2

a.$634.78

b.$664.63

c.$634.53

d.$665.28

iii)calculate the actuarial rate

a.9.96%

b.10.75%

c.8.97%

d.10.88%