2 parts, second is t/f that i would like to check also

You have just made a loan payment to your bank and have decided to pay the remaining balance on the loan. You originated this loan 20 years ago when you borrowed $100,000 to start your own business, MOJO Enterprises. At that time, you arranged for a 30-year loan with a 3.50% APR and monthly payments. Assume the first payment was made one month after you originated the loan and that interest is compounded on a monthly basis. What is the current balance on your loan? (Choose the range in which the correct solution falls.) Less than $45,000 O Greater than or equal to $45,000, but less than $46,000. Greater than or equal to $46,000, but less than $47,000. Greater than or equal to $47,000, but less than $48,000. O Greater than or equal to $48,000. True or False. The formula for a growing perpetuity assumes that the cash flows being valued always increase by an equal dollar amount. O True O False