Home Mortgages Suppose a home buyer secures a bank loan of A dollars to purchase a house. If the interest rate charged is $\frac{r}{?}$ year compounded monthly and the loan is to be

amortized in $t$ years, then the principal repayment at the end of i months is given by the following formula.

$B=f(A,r,t,i)$

$=A[\frac{(1+\frac{r}{12}{)}^i-1}{(1+\frac{r}{12}{)}^{12t}-1}],(0i12t)$

Suppose the Blakelys borrow a sum of $$230,000$ from a bank to help finance the purchase of a house and the bank charges interest at a rate of $5\frac{\%}{?}$ year. If the Blakelys agree to repay the

loan in equal installments over $30$ years, how much will they owe the bank $($in dollars$)$ after the $60$th payment $(5$ years$)?$ The $240$th payment $(20$ years$)?($Round your answers to two

decimal places.$)$

amount owed after the $60$th payment $

amount owed after the $240$th payment $