pounded monthly. What equal monthly payments can she receive over a period of What e (4 points) Sally has a sum of $29000 that she a) 5 years? Answer = $ b) 17 years? Answer - $ (4 points) A couple has decided to purchase a $140000 house using a down payment of $20000. They can amortize the balance at 6% over 25 years a) What is their monthly payment? Answers b) What is the total interest paid? Answer = $ c) What is the equity after 5 years? Answer = $ d) What is the equity after 20 years? Answers (4 points) Fifteen years ago a couple purchased a house for $150,000.00 by paying a 20% down payment and financing the remaining balance with a 30-year mortgage at 5.94% compounded monthly (a) Find the monthly payment for this loan. Monthly Payment Note: Your answer should include a dollar sign and be accurate to two decimal places (b) Find the balance of the loan after 15 years and after 16 years? Letbe how many payments are left on the loan After 15 years After 16 years m Loan Balance (Note: The balance amounts should include a dollar sign and be accurate to two decimal places) (c) Find the total amount of interest paid by the couple during the 16th year, Interest Paid During 16th year, 1 (Note: Your answer should include a dollar sign and be accurate to two decimal places)