. Suppose I take out a loan of $90,000, to be repaid over 10 years, i monthly installments. Interest is caleulaterd at a rate of 4.8% per annum, compounded monthly. The first payment is made the month following taking the loan out; the loan is paid off at the end of 10 years; the interest on the outstanding balance is computed at the end of each month just before a repayms made. In additon, after adding the interest at the end of each month the bank charges a $20 fee Let the repayments be SR per month. Let P be the amount owing on the loan, after having paid the first repayment. (Also after the first amount of interest has been added, and the first S20 fee has been charged.) Find a forml for P in terms of R. Let be the amount owing on the loan, after having paid the second repayment Find a formula for P2 in terms of R .Let P be the amount owingon the loan, after having paid the third repaymet Find a formula for Ps in terms of R. Use the formulas you have obtained, and the pattern that has been established, to find a formula for P, the amoun owingon the loan, after having paid the nth repayment. Determine the monthly repayment explain your reasoning