Question $5$: $[8$ marks$]$ You just borrowed $$10,000$ at a rate of $i^{(12)}=8\%$ per year and you pay $$150$ per

month, starting in one month:

a$)$ How long do you expect to be paying the loan? $[2$ marks$]$

b$)$ If you paid the loan off with a balloon payment, how large would that payment be$?[3$ marks$]$

c$)$ If you paid the loan off with a drop payment, how large would that payment be$?[3$ marks$]$