q1

A borrower receives a loan in five semi-annual installments of X. The loan is

repaid with 20 annual installments, the first one equal to $1000 and the

payments increase by $500 each year. If the first payment is due one year after

receiving the 5th semi-annual installment and if the effective annual interest rate

is 8%. Calculate X.

q2

Tyler takes out a loan of $100 to be repaid in 360 monthly installments. His first

payment will be made one month after the inception of the loan and that the

effective annual rate of interest is 10%. Determine which payment will be the

first where the amount of principal paid is more than two thirds the amount of

interest paid

Plz, explaine as much as you can

thank you