Consider 3 loan repayment methods for a $1000 loan over a 10-year period. A: The loan is repaid by 10 level payments over the 10-year period. B: The interest accrued each year is paid at the end of each year, and the principal of $1000 is repaid at the end of 10 years. C: A single payment of 1000(1.03)10 at the end of 10 years. (a) If the effective rate of interest is 3% per annum, find the total amount of interest that would be paid at the end of 10 years for each repayment method. Round your answers to the nearest cent. [6] (b) Assume that you are the loan lender. The borrower decides to take up scheme B to repay the loan. You decide to reinvest the payments each year as they are received. Compute your annual yield rate iy if the reinvestment rate is 5%. [4]