10 [recommended for those with a BA Il Plus calculator] Dax borrows $300,000 and the loan is governed by compound interest at an annual effective interest rate of 4.75%. Dax agrees to repay the loan by ten equally spaced payments, the first four of which are for $25,000 and the next six of which are for $40,000. When should he make the first payment? (11) Find the amount to be paid at the end of eight years that is equivalent to a 4 payment of $400 now and a payment of $300 at the end of four years (a) if 6% simple interest is earned fromthe date each payment is made and use a comparison date of right now. use a comparison date of eight years from now. not contradict the fact that equations of value at different times are equiv- (b) if 6% simple interest is earned from the date each payment is made and (c) Explain why the fact you get different answers in parts (a) and (b) does alent equations. 9 (d) Repeat parts (a) and (b) except replace "simple interest" with "compound