Q5 (10 Marks) A company takes out a loan for $150000 at an interest rate of 1% compounded monthly a) If the loan is due to be repaid in a single payment after 2 years, what is the total amount, including interest, which the company will have to repay? b) The company has insufficient funds to repay this all of this loan. So it takes a second loan of $8000 at an interest rate of 3% compounded monthly which is paid in equal monthly installments over a period of 5 years. What is the amount of the monthly payments? What is the total amount of interest paid on the second loan