#2 the answer R=743.04 Balance=$59671.34 Equity=$45328.66 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you

2. A $85,000 home loan is obtained for 20 years at 8.6% converted monthly. Determine the balance of the loan after 10 years. If a down payment of $20,000 was made, determine the amount of the owner's equity at this time. 3. A borrower received a $105,000 home loan for 25 years at 7.8% converted monthly. Determine the balance of the loan after 12 years. If a down payment of $20,000 was made, determine the amount of the owner's equity at this time. (Balance: $77,942.94; Owner's equity: $47,057.06 ) 4. A $85,000 home loan is obtained for 20 years at 8.6% converted monthly. If monthly payments of $750 are made, determine the number of full payments and the size of the concluding payment needed to settle the loan