Question $8$

A ten$-$year loan will be repaid with payments at the end of each year. Each of the first five

payments is $1,000$ and each of the next five payments is $2,000.$

Interest on the loan is charged at an annual effective rate of $.$

Calculate the total interest paid in the first $8$ payments.

$***($alpha $=0\mathrm{.}1)****$