Jack has borrowed $$1,000,000$ from MQ Bank for $10$ years at an interest rate of $j_2=4\mathrm{.}26\%.$ He will make $10$ annual

repayments. According to the loan agreement, Jack's repayments will be $$81,000$ for the first two years followed by

payments of with the amount of $x$ per year for the remaining eight years. This loan needs to be fully repaid by the end of $10$

years.

$($a$)$ Assume that all annual repayments will be paid at the end of each year $($the first payment will be at the end of the first

year$),$ what is the value of Jacks' annual payment amount $x($rounded to four decimal places$)?$

a$.127528\mathrm{.}4096$

b$.138745\mathrm{.}9360$

c$.127276\mathrm{.}3494$

d$.138351\mathrm{.}2704$