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2. An individual is borrowing $185,000 for a 20 year loan at 3.75% per year compounded monthly. Compute the monthly payment. 3. Continue on Question

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2. An individual is borrowing $185,000 for a 20 year loan at 3.75% per year compounded monthly. Compute the monthly payment. 3. Continue on Question 2: Immediately after his 68th monthly payment he decides to buy a small (only $55,000 ) SUV and roll this additional amount into the mount he owes. Assuming that he keeps the same monthly payement as in Question 2, how long it will be before he pays the mortageg off

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