Please provide clear answers with easily understandable intermediate steps. DO NOT use Excel! Here are the correct answers: 1. Installment = 9194 . 2. Interest payments = 8000 and 7952 .

Company Nikkei will ask for a loan from Last Republic Bank. The loan amount is 200,000 EUR and the company will pay constant semi-annual installments on this loan for a period of 30 years. The stated annual interest rate is 8%. The first installment will be paid only one year after the signing of the loan, i.e., there will be no payments to the bank during the first 12 months after receiving the money from the bank. 1. (2 points) What is the amount of each installment to be paid by Nikkei? ( 2 points) How much is the interest payment on the 1 st and 2 nd installments