Answer parts a), b), c) and d) based on the information provided below: Nelson took out a 25-year home loan of $500,000. He made equal month-end repayments at the interest rate of 6% p.a. compounded monthly. a) How much should Nelson repay at the end of each month to pay off the loan on time? Round your answer to the nearest cent. (2 marks)

b) Calculate the loan outstanding balance 15 years after Nelson took out the loan using the prospective method. Round your answer to the nearest cent. (3 marks)

c) Calculate the total principal paid in the 16th year. Round your answer to the nearest cent. (3 marks)

d) Calculate the total interest paid in the 16th year. Round your answer to the nearest cent. (2 marks)