6. An investor bought a S450,000 property by putting 10% down and financing the rest for 15 years at an annual rate of 3%. Calculate the monthly payments. How much would be owed on the loan after 5 years? How much interest was paid on the loan for the first 5 years? At the end of five years the equity was $210,352.73. What was the growth rate in the value of the property? 25 points