Question 1 of 2 ' Aloen of $11,000 is to be amortized with quarterly payments over 5 years If the interest on the loan is 8% per year, paid on the unpaid balance, answer the following questions. a. What is the interest rate charged each quarter on the unpaid balance9 i b. How many payments are made to repay the loan? 0. What payment is required quarterly to amortize the loan? | i a. The interest rate each quarter is % i b. There will need to be payments made ' c. The quarterly payment needs to be 5:] ' (Round to the nearest cent as needed )