Consider a loan that is repayable by regularly decreasing half-yearly instalments over a 11-year period. Thus, the instalment at the end of the first half-year is set to 1520 and subsequent payments reduce by an amount of 45 each half-year. Assuming that the rate of interest is 4.8% per annum convertible half- yearly for the entire term of the contract, calculate, to 2 decimal places, the following: a) The initial amount of loan that was borrowed: ; [3] b) The amount of loan outstanding at the start of the 3th year: ; [3] c) The amount of capital component in the 5th instalment: [2]