You owe your best friend $2,000. Because you are short on cash, you offer to repay the loan over 12 months under the following condition. The first payment will be $100 at the end of month one. The...

You owe your best friend $2,000. Because you are short on cash, you offer to repay the loan over 12 months under the following condition. The first payment will be $100 at the end of month one. The second payment will be $100+G at the end of month two. At the end of month three, you’ll repay $100 + 2G. This pattern of increasing G amounts will continue for all remaining months. Solve, a. What is the value of G if the interest rate is 0.5% per month? b. What is the equivalent uniform monthly payment? c. Repeat Part (a) when the first payment is $150 (i.e., determine G).