Question 4 (11 marks) A Metal Industry plans to accelerate payment on an equipment loan due to the growth in their production capacity. The initial payment is $15000 per year and the plan is to increase the payment beginning in year 2 with an additional amount of $3000 each year up to the 7th year. Draw the cash flow diagram for the case above. ii. Find out the equivalent annual payment if the loan interest rate is 9%. Draw a cash flow diagram for the new payment plan in part (ii)