Question 1 (10 marks) Erica borrowed $80,000 from Tiger Bank for paying the income tax due. The terms of personal loan require him to pay off the loan amount over 3 years with equal monthly payments. The annual interest rate on this loan is 2.8%. a. Use TVM formula to calculate the amount of each monthly repayment. (3 marks) b. Use Excel to calculate the interest and principal paid for the 9th payment. You are required to write the Excel syntax as working of your answer. (4 marks) c. What happens to Erica's credit score and future ability to borrow if she is unable to keep up with the loan repayments