n 1. Unicron lends Megatron 60,000. The loan is to be repaid with n end of year payments, and the annual effective interest rate is 5%. For the first n-1 payments, the amount of the annual payment is three times the interest then due. The nth and final payment is the outstanding principal at that time. (a) If n is chosen to be the smallest integer with the final payment not exceeding 1000, what is n, and what is the amount of the final payment? (b) After the fifth payment is made, the loan is renegotiated. The remaining n 5 payments will contain equal principal, and the annual effective interest rate is increased to 6%. Compute the total interest paid during the life of the loan (for all n payments). n 1. Unicron lends Megatron 60,000. The loan is to be repaid with n end of year payments, and the annual effective interest rate is 5%. For the first n-1 payments, the amount of the annual payment is three times the interest then due. The nth and final payment is the outstanding principal at that time. (a) If n is chosen to be the smallest integer with the final payment not exceeding 1000, what is n, and what is the amount of the final payment? (b) After the fifth payment is made, the loan is renegotiated. The remaining n 5 payments will contain equal principal, and the annual effective interest rate is increased to 6%. Compute the total interest paid during the life of the loan (for all n payments)