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Q5. A student takes out a loan to pay for her 4-year degree. She borrows $20,000 from her bank and is to repay the loan

Q5. A student takes out a loan to pay for her 4-year degree. She borrows $20,000 from her bank and is to repay the loan in equal monthly payments over 10 years, beginning with the first month after the 4-year degree is completed. Ifthe banks charges a nominal interest rate of 9%. [6 marks] (a) Draw a cash flow diagram from the student perspective (viewpoint) (b) How much is her loan monthly payment

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