Show instructions Question 1 (5 points) A $14,000 loan at 6% compounded monthly is repaid by monthly payments over four years. a. What is the size of the monthly payment? b. Calculate the principal portion of the 25th payment. c. Calculate the interest portion of the 33rd payment. d. Calculate the total interest paid in the second year. e. Calculate the principal portion of the payments in the third year. Blank 1: Blank 2: Blank 3: Blank 4: Blank 5:

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A: In this question, we will use the compound interest formula.

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A: Solution:- first calculate the total amount paid in 10 years