Question: Need help with this question . John and Mary each take out a 17-year loan of L. John repays his loan using the amortisation method,

Need help with this question

. John and Mary each take out a 17-year loan of L. John repays his loan using the amortisation method, at an annual effective interest rate of 1'. He makes an annual payment of Elli] at the end of each year. Mary repays her loan using the sinking fund method. She pays interest an- nually? also at an annual eeeve interest rate of i. In addition, Mary makes level annual deposits at the end ofth year for 1'? yearsinto a sinking fund. The annual e'eotiye rate on the sinking fund is 4.62%, and she pays the 1value of loan after 1'? years. Mary's total payment each year is equal to lii'E. of the original loan amount. {a} Find the interest rate 1'. {b} Find the amount of the loan. (c) Find the total interest paid by Mary. [d] Find the total interest paid in the tenth year by Mary. {e} Find the principle repaid in the eleventh year by Mary. {1'} Find the outstanding balance for Mary after the thirtieth payments
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