2. The amount of principal repaid in the 11th payment of a loan being repaid by level payments is $460. Given an annual effective interest rate of 4%, compute the principal repaid in the 5th payment. b) 364 c) 378 d) 336 a) 350 e) 393 3. A loan of $4000 is being repaid at 5% effective annual interest rate by level annual payments of $300. Compute the outstanding loan balance just after the 15th payment. a) 1842 b) 1771 c) 1666 d) 1569 e) 1473