4. Lisa bought 8 new horses to train and do lessons on at her new facility. The total cost for the horses is $37,500. She borrowed the money to buy the horses at 6.8% compounded monthly and is to repay the debt by making monthly payments at the end of each month of $1650.

a. How many payments are required to repay the loan?

b. Prepare a complete amortization schedule for the loan. Make sure your values are rounded (not just cut off) to the nearest cent. Express totals at the bottom of each column as currency.

c. What is the total cost of financing the debt?