• Original loan amount: $58,000
• Current loan outstanding: $53210.39
• Monthly repayment: $790
• Next repayment: Due exactly 1 month from now
• Interest rate on loan:12i12=8.4%

For the purposes of the remaining questions, use the rounded values given above. Using this information, determine the following:

a) How much principal has Alexei repaid over the last year? Give your answer to the nearest cent

b) How much interest has Alexei been charged over the past year? Give your answer to the nearest cent

c) If Alexei continues making monthly repayments of $790, and if the interest rate does not change, how many further FULL repayments does he expect to have to make in order to repay the loan? Do NOT include any final smaller repayment to pay off the remaining balance