The interest rate on a $200,000 loan is 8% compounded quarterly. (Round your answers to the nearest cent.) a. What payments at the end of every quarter will reduce the balance to $150,000 after 3 years? PMT $ b. If the same payments continue, what will be the balance seven years after the date that the loan was received? Balance $ c. How much interest will be paid during the first seven years? Interest $