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A man has 4 2 4 0 , 0 0 0 home loan for 2 0 years at a nominal rate of 4 . 5

A man has 4240,000 home loan for 20 years at a nominal rate of 4.5%
convertible monthly. He makes fixed principal repayment of $1000 each
month. Find,
a. his loan balance after 12 years
b. his 100th month payment
c. the sum of amount of interest paid in the 5
th year (from 49th month to 60th month).

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