Question: The third file is for a client named Alexei. Alexei took out a personal loan exactly one year ago with Harrison Bank. From his file,

The third file is for a client named Alexei. Alexei took out a personal loan exactly one year ago with Harrison Bank. From his file, you have noted the following information:

Original loan amount: $54,000
Current loan outstanding: $49755.64
Monthly repayment: $740
Next repayment: Due exactly 1 month from now
Interest rate on loan:i12=8.9%

For the purposes of the remaining questions, use the rounded values given above. Using this information, determine the following:

How much principal has Alexei repaid over the last year? Give your answer to the nearest cent, and do NOT include a dollar sign.
How much interest has Alexei been charged over the past year? Give your answer to the nearest cent, and do NOT include a dollar sign.

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