bank to bu 15. Duane wishes to $180,000 from a wants to know ouse. The interest rate on the loan is 5.4% compounded borrow is fixed. He 360 months. his monthly payment would have to be so that the monthly and it years, wil Yo are required to belp him figure this out. To loan is paid off in 30 on July 1, 2017. Then his last payment will be simplify the counting. years later on June 30, 2047, (a) Calculate the interest rate per month (b) If the s 180.000 Duane borrows to be deposited into a savings account earning interest monthly were at the rate you calculated in part (s), what will it ve grown into on June 30, 2047? (c The bank insists that Duane must make monthly payments, starting July 31, whose total dollar (with interest included), will be equal to the amount you have calculated in part (b). Let the amount he has to pay monthly be P dollars. Imagine depositing these payments into an account that earns interest monthly at the same calculated in part (a). The first payment will be in the for rate you 358 months, etc. account 359 months, the second for