Stefano takes out a 6 year mortgage of $1450000 with monthly payments and an amortization period of 30 years. The nominal annual rate on the mortgage is 4.00% compounded monthly.

a) What are his monthly payments? b) What will the outstanding balance on his mortgage be at the end of 6 years.? c) Stefano decides to make annual deposits (at the end of each year) of $29000.00 into a sinking fund paying an annual effective rate of 2.00%. When the mortgage ends, he uses the sinking fund to reduce his outstanding balance. How much does he still owe? d) If Stefano wants to reduce his outstanding balance (after applying the sinking fund) to 60% of his initial loan amount, how much do his payments have to be?