Please answer question 4, thanks

4. (8 points) a) Mr. Dillard-Todd Welch borrows $5,000 in order to buy furniture. He wishes to pay the loan back by means of 12 ANNUAL payments; the first to be made one year after the loan is taken out. If i=.08. find the amount of each payment X= X 1 1 12 years $5.000 1 2 0 3 4 b) Answer the question in 4a) if the loan of $5,000 is to be paid back with 144 MONTHLY payments, the first one due one month after the loan is taken out. If annual interest rate i =.08, find the amount of each payment X = X X X 1 2 X 1 L 4 1 0 $5,000 144 months 5. (8 points) You, a Broker, are trying to answer a buyer's question of "how much in total T will be paid back to Bank from me to purchase a house at price of $240, 000, if Loan L =$200,000 (i.e. with a down-pay of $40,000) for Option 1 and Option 2. a) Option 1: From Bank-Capital One at annual rate r =6%, n = 30 years; T = b) Option 2: From Bank-Chase at annual rate r = 6.125%, n=10 years; T =