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3. David buys a house for $ 256, 000, with a down payment of $15000. Interest charged at 7.25% per year for 25 years compounded

3. David buys a house for $ 256, 000, with a down payment of $15000. Interest charged at 7.25% per year for 25 years compounded monthly. (a) Find the amount of each monthly payment to amortize the loan. [Use P = ALL R[1 - (1 + 0) n] (b) Find the unpaid balance of the loan after 5 years. Use y = R[1 - (1+ i)-(n-x)]

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