Darcy has been paying off her home loan for 14 years. She has reduced the debt to $403311.68.

She has made regular payments of $3,706.71 over this time. Her orginal home loan was for 30 years

at 7.9% p.a. interest calculated monthly

a.

Calculate how much Darcy orginally borrowed approximately to the nearest thousand of dollars. i.e. write your answer in the form $_ _ _ 000.

Therefore, Answer N/i/PV/PM/TF/VP/YC/Y == ( )

b.	i.	Calculate how much Darcy has paid off after 14 years.
		$ Answer
	ii.	Calculate the total repayments Darcy has made over 14 years.
		$ Answer
c.	i.	Suppose that after 14 years, Darcy adds an extra $150 a month to the repayments.
		How many months approximately, will this reduce the term of the loan?
		Calculator input:
		=n=	Answer
		=i=	Answer
		=PV=	Answer
		=PMT=	Answer
		=FV=	Answer
		/=P/Y=	Answer
		/=C/Y=	Answer
		Number of months remaining with new repayments amount =
		n= Answer months
		(Round your answer to the best integer value)
		Therefore, the term of the loan will reduce by Answer months.
		(Round your answer to the best integer value)
	ii.	Alternatively, suppose that, after the 14 years, Darcy transfers the
		remainder of the loan to a bank that has a lower interest rate.
		If Darcy is able to repay the remainder of the loan in 15 years,
		What interest rate has the bank been charging? Assume her monthly
		repayments remain at $3,706.71.
		Calculator input:
		=n=	Answer
		=i=	Answer
		=PV=	Answer
		=PMT=	Answer
		=FV=	Answer
		/=P/Y=	Answer
		/=C/Y=	Answer
		Therefore, the interest rate with the new bank is =
		i= Answer % p.a. (2 decimal places)