QUESTION 1 8 points Save Answer Toyota South Morang auto finance company is prepared to offer you a loan of $38 000 to buy a new Toyota Corolla. The repayments are at the end of every year for a period of 7 years. If the interest rate on the loan is 12%, perform loan amortisation calculations that will allow you to determine the amount of the loan outstanding after making the second instalment. (8marks) PV of an ordinary annuity = C/r x [1 - 1/(1+r)^n] (if annuity starts at the end of the first year and there are n payments) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Open Sans,sa... V 10pt V v A V TX ... E X2 X2 - + V X EX EX O