On January 15, business man Ronald Rump takes out a $650,000 loan at 5.5% annual interest. The maturity date (the day RR has to pay off the loan) is October 1st 1. How much will Ronald have to pay on October 1st? 2. Suppose instead of paying off the entire loan on October 1st, RR decides to pay $100,000 on May 1st, and $150,000 on August 1st a. How much interest did RR pay on May 1st? b. How much of Ronald Rumps' $100,000 payment went to pay off the principal, $650,000? C. What is the new principal (or how much more does RR have to pay)? d. How much interest did RR pay on August 1st e. How much of Ronald Rumps' $150,000 payment went to pay off the principal? f. What is the new principal (or how much more does RR have to pay)? g. How much does owe on October 1st? h. How much of Ronald Rumps' final payment went to pay off the principal? i. What is the total amount of money RR paid for the loan? j. How much did he save by making the two partial payments. You are to prepare a report for your boss, Mr. Rump. This assignment must be typed, preferably as a word document. You must label what you are doing and show a significant amount of work. All answers must be in a sentence