As the purchaser of a new house, Carrie Underwood has signed a mortgage note to pay the Nashville National Bank and Trust Co. $8,500 every 6 months for 8 years, at the end of which time she will own the house. At the date the mortgage is signed, the purchase price was $111,324 and Underwood made a down payment of $20,500. The first payment will be made 6 months after the date the mortgage is signed. Using a financial calculator,