5. Thomas is taking out a $42,000 home-improvement loan that he will make monthly payments on for eight years. The interest rate is 5.15%. a) Find his monthly payment (3) Incorrect Solution: 1 Explanation of Error(s): Correct Work and Solution: | PMT= A (1-(Hi/h) -42000 0.0515 1-C1+0.05183 $6537.78 b) Find the total amount of money he would end up paying during the life of the loan. (2) lacorrect Solution: Explanation of Error(): Correct Work and Solution: 6537.78.6 $ 39226.68 Find the amount of interest he would pay on the loan. Qpu) lacorrect Solution: Explanation of Error(s): Correct Work and Solution: I=Prt I =42000 (osis)() I = $17304