Emily has been paying off her home loan for 11 years. She has reduced the debt to $337887.99.

She has made regular payments of $3,013.71 over this time. Her orginal home loan was for 25 years

at 6.2% p.a. interest calculated monthly

a.

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

Therefore, AnswerniPVPMTFVP/YC/Y == $ Answer

b.	i.	Calculate how much Emily has paid off after 11 years.
		$ Answer
	ii.	Calculate the total repayments Emily has made over 11 years.
		$ Answer
c.	i.	Suppose that after 11 years, Emily adds an extra $150 a month to the repayments.
		How many months approximately, will this reduce the term of the loan?
		Calculator input:
		n=n=	Answer
		i=i=	Answer
		PV=PV=	Answer
		PMT=PMT=	Answer
		FV=FV=	Answer
		P/Y=P/Y=	Answer
		C/Y=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 11 years, Emily transfers the
		remainder of the loan to a bank that has a lower interest rate.
		If Emily is able to repay the remainder of the loan in 13 years,
		What interest rate has the bank been charging? Assume her monthly
		repayments remain at $3,013.71.
		Calculator input:
		n=n=	Answer
		i=i=	Answer
		PV=PV=	Answer
		PMT=PMT=	Answer
		FV=FV=	Answer
		P/Y=P/Y=	Answer
		C/Y=C/Y=	Answer
		Therefore, the interest rate with the new bank is =
		i= Answer % p.a. (2 decimal places)