Question: this is for a acturial math course(financial math) 2. A loan at an effective annual interest rate i = 10% is repaid with 10 yearly

this is for a acturial math course(financial math)

2. A loan at an effective annual interest rate i = 10% is repaid with 10 yearly payments starting one year after the loan. The amount of the first payment is 500 and each subsequent payment is 10 larger than the previous payment. (a) Find the amount of the loan. (b) Find the interest paid in the second payment. (c) Find the principle repaid in the third payment. (d) Find the outstanding balance after the forth payment using the prospective approach. (e) Find the outstanding balance after the fifth payment using the ret- rospective approach

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