Question 2 (a) A loan $300,000 is to be repaid by monthly payments of $12,000 to commence at the end of the first month and to continue thereafter for as long as necessary. Suppose the effective interest rate is 4% pa. if a balloon payment is made. (G) Calculate the number of payments. (ii) Determine the amount of final irregular payment. (ii)Set up a partial amortization schedule to show all the entries of the last two payments. [4 marks] [5 marks] [5 marks] (b) A pension fund of $10,000,000 is to be accumulated by anpal payments k at the end of Show how to calculate each entry each quarter for the next thirty years at the effective interest rate is 8% pa.. At the end of the 30th year, all the money in the fund was used to buy either a 20-year annuity-due with annual payout Ror a perpetuity-immediate with annual payout P (i) Determine k (ii) Determine R (ii)Determine P. [4 marks] [4 marks] [3 marks] Question 2 (a) A loan $300,000 is to be repaid by monthly payments of $12,000 to commence at the end of the first month and to continue thereafter for as long as necessary. Suppose the effective interest rate is 4% pa. if a balloon payment is made. (G) Calculate the number of payments. (ii) Determine the amount of final irregular payment. (ii)Set up a partial amortization schedule to show all the entries of the last two payments. [4 marks] [5 marks] [5 marks] (b) A pension fund of $10,000,000 is to be accumulated by anpal payments k at the end of Show how to calculate each entry each quarter for the next thirty years at the effective interest rate is 8% pa.. At the end of the 30th year, all the money in the fund was used to buy either a 20-year annuity-due with annual payout Ror a perpetuity-immediate with annual payout P (i) Determine k (ii) Determine R (ii)Determine P. [4 marks] [4 marks] [3 marks]