Please answer question 7. There's some helpful formulas in picture 2.

7. A loan is repaid in 25 equal annual payments starting one year from the time the loan was made. Suppose that the second interest payment (/2) is $24,214.59 and the 14th principal repayment (PR14) is $26,720.98. (a) Find the effective annual interest rate. (b) Find the amount of the annual payment. (c) Find the amount of the loan. 7. A loan is repaid in 25 equal annual payments starting one year from the time the loan was made. Suppose that the second interest payment (/2) is $24,214.59 and the 14th principal repayment (PR14) is $26,720.98. (a) Find the effective annual interest rate. (b) Find the amount of the annual payment. (c) Find the amount of the loan