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QUESTION 1 A loan of $100,000 is made today. This loan will be repaid by 10 level repayments, followed by a final smaller repayment, ie,

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QUESTION 1 A loan of $100,000 is made today. This loan will be repaid by 10 level repayments, followed by a final smaller repayment, ie, there are 11 repayments in total, The first of the level repayments will occur exactly 2 years from today, and each subsequent repayment (including the final smaller repayment) will occur exactly 1 year after the previous repayment. Explicitly, the final repayment will occur exactly 12 years from today. If the interest being charged on this loan is 7.1% per annum compounded half-yearly, and the final smaller repayment is 5610, (a) Calculate the loan outstanding exactly 1 year from today. Answer: A loan of $100,000 is made today. This loan will be repaid by 10 level repayments, followed by a final smaller repayment, ie, there are 11 repayments in total The first of the level repayments will occur exactly 2 years from today, and each subsequent repayment (including the final smaller repayment will occur cactly 1 year after the previous repayment. Explicitly, the final repayment will occur exactly 12 years from today. If the interest being charged on this loan is 7.19 per annum compounded half-yearly, and the final smaller repayment is 5610 (b) Calculate the loan outstanding exactly 11 years from today Answer A loan of $100,000 is made today. This loan will be reprod by 10 pyes owed by a matter payment, le, there are 11 repayments in total The first of the level repayment will occur exactly 2 years from today and each e r paymen a ng the hamaller repayment will occur exactly 1 year after the previous repayment. Explicitly, the final repayment will occur exactly 12 years from today. If the interest being charged on this loan is 7.1% per annum compounded half yearly, and the final smaller repayment is $610, (c) Calculate the amount of the livel repayments

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