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A loan of $10,000 is repaid over 6 years using one of the following two methods: • Amortization with annual end of year payments based on an annual effective rate of 5

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A loan of $10,000 is repaid over 6 years using one of the following two methods: • Amortization with annual end of year payments based on an annual effective rate of 5.75%. • The sink fund method, where the borrower pays the lender interest at rate i at the end of each year. The borrower also makes end of year deposits into a sinking fund earning an annual effective rate of 4.75% to repay the principal in 6 years. Find the annual amortization payment to the nearest cent. Number Find the sink fund deposit to the nearest cent. Number Find the rate of interest i that will make both repayment methods have the same annual cost. (Give your answer in decimal format to 4 decimal places) Number