Mr$.$ and Mrs$.$ Dunn have just purchased a $$130000$ condo and made a down payment of $$15000.$ They can amortize the balance at $6\%$ compounded monthly over $30$ years.

Note: for this question, round the payment appropriately and use it in subsequent calculations.

a$)$ What are the monthly payments?

Answer $=$$

b$)$ What is their equity after $5$ years $($i$.$e$.$ the difference between the price of the home and the balance still owing$)?$

Answer $=$$

c$)$ What is their equity after $25$ years?

Answer $=$$