Problem 4 (Required, 25 marks) Peter borrows L = $154700 from the bank today and agrees to repay the loan by n monthly payments made at the end of every month. The first payment is made 1 month after today. You are also given that The loan charges interest at a monthly effective interest rate 1.35%; The amount of kth repayment (1 sk s n) is the interest due plus an additional amount P + (k 1)0, where P, Q are some positive numbers. The outstanding balance at 24th payment date is OLB 24 = $132980; The outstanding balance at 48th payment date is OLB48 = $93980. Question Calculate the total amount of interest paid by the borrower over the entire loan. Problem 4 (Required, 25 marks) Peter borrows L = $154700 from the bank today and agrees to repay the loan by n monthly payments made at the end of every month. The first payment is made 1 month after today. You are also given that The loan charges interest at a monthly effective interest rate 1.35%; The amount of kth repayment (1 sk s n) is the interest due plus an additional amount P + (k 1)0, where P, Q are some positive numbers. The outstanding balance at 24th payment date is OLB 24 = $132980; The outstanding balance at 48th payment date is OLB48 = $93980. Question Calculate the total amount of interest paid by the borrower over the entire loan