Jerry and Katrina have decided to renovate the kitchen in their 75-year-old home. The project is expected to cost $40,000 and the couple plans to pay for it with a home equity loan. Their local credit union is offering a 60-month home equity loan with an APR of 6% and monthly compounding. (a) What will their monthly payments be if they take the loan? Your answer should be accurate to the nearest penny. (b) What will their loan balance be after making the first 20 payments? Your answer should be accurate to the nearest dollar