$17-7.$ Consider Problem $17-3.$ Suppose that Bank$1$ currently has $$1,000,000$ worth of outstanding loans. Of these, $$300,000$ have just been paid, $$150,000$ are one quarter late, $$250,000$ are two quarters late, $$200,000$ are three quarters late, and the rest are over four quarters late. What would the picture of these loans be like after two cycles of loans? Solution: