6.2 Annuities, Sinking Funds and Amortization OPEN I am f ITEMS SUMMARY 11. Try again

6.2 Annuities, Sinking Funds and Amortization ITEMS SUMMARY < previous A N" You have answered out of 3 parts correctly. you have 1 attempt remaining. You purchase plot of land worth to create a community garden. by securing a 20-year loan charging 9.64% APR, compounded monthly, and requiring monthly payments of S505. Round all answers to the nearest dollar. a. Assuming thar you pur some money down, what was your original loan amount? Original Loan Amount: S 53650 b. What is the outstanding balance on your loan after making 7 years-of payments? Outstanding Balance Aher 7 Years: S c. HOW much equity do you have in the garden after 7 years? Equity After 7 Years: S Answers Attempt 2nf2 < Answer