Secondary Mortgage Purchasing Company $($SMPC$)$ wants to buy your mortgage from the local savings and loan. The original balance of your mortgage was $$152,000$ and was obtained five years ago with monthly payments at $10$ percent interest. The loan was to be fully amortized over $30$ years.

Required:

a$.$ What should SMPC pay if it wants an $11$ percent return?

b$.$ What is the balance of the original loan after five additional years $(10$ years from origination$)?$

Complete this question by entering your answers in the tabs below.

Required A

What should SMPC pay if it wants an $11$ percent return?

Note: Do not round intermediate calculations. Round your final answer to $2$ decimal places.

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