Q15. A 16-year loan of RML is repaid with a payment at the end of each year. During the first eight years, the payment is RM100. During the final 8 years, the payment is RM300. Interest is charged on the loan at an annual effective rate of i such that v8 > 0.3 . After the first payment of RM100, the outstanding balance is RML+25. a) Calculate the amount of the loan, L. b) Calculate the amount of interest in the sixth payment. c) Calculate the outstanding balance on the loan immediately after the eighth annual payment of RM100 has been made. d) Repeat (a) through to (c) above if the first eight years the payment is RM112.50 e) Repeat (a) through to (c) above if only the first four years the payment is RM100 Q15. A 16-year loan of RML is repaid with a payment at the end of each year. During the first eight years, the payment is RM100. During the final 8 years, the payment is RM300. Interest is charged on the loan at an annual effective rate of i such that v8 > 0.3 . After the first payment of RM100, the outstanding balance is RML+25. a) Calculate the amount of the loan, L. b) Calculate the amount of interest in the sixth payment. c) Calculate the outstanding balance on the loan immediately after the eighth annual payment of RM100 has been made. d) Repeat (a) through to (c) above if the first eight years the payment is RM112.50 e) Repeat (a) through to (c) above if only the first four years the payment is RM100