A 30-year loan of $10,000 with monthly payments based on a 12% interest convertible monthly, is being repaid by paying the interest only every month and accumulating the principle by means of monthly deposits into a sinking fund. The sinking fund eams interest at 6% compounded monthly. What are the total monthly payments needed to pay back the loan? (Hint: Need to first find out how much is deposited into the sinking fund each month and then add that to the interest you are paying each month). A 30-year loan of $10,000 with monthly payments based on a 12% interest convertible monthly, is being repaid by paying the interest only every month and accumulating the principle by means of monthly deposits into a sinking fund. The sinking fund eams interest at 6% compounded monthly. What are the total monthly payments needed to pay back the loan? (Hint: Need to first find out how much is deposited into the sinking fund each month and then add that to the interest you are paying each month)