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5. Thomas is taking out a $42,000 home-improvement loan that he will make monthly payments on for eight years. The interest rate is 5.15% a) Find his monthly payment ) Incorrect Solution: 1 Explanation of Error(): Correct Work and Solution: DM -42000 101-100 0.0S15 1-C140.05183 $6537.78 b) Find the focal amount of money he would end up paying during the life of the loan. (2) Incorrect Solution: Explanation of Error(s): Correct Work and Solution: 6537.78.6 $39226.68 Find the amount of interest he would pay on the loan (2) Incorrect Solution: Explanation of Error(): Correct Work and Solution: I prt I =42000(0.0515)) I = $17304