Theory | ReadT... - [-/5 Points] DETAILS TANAPMATH7 4.3.042.EP. MY NOTES ASK YOUR TEACHER Sarah secured a bank loan of $155,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 years, with an interest rate of 3%/year compounded monthly on the unpaid balance. Determine Sarah's monthly payment, in dollars. (Round your answer to the nearest cent.) She plans to sell her house in 5 years. How many payments have been made at that point? payments How much (in dollars) will Sarah still owe on the house? (Round your answer to the nearest cent.) [-/5 Points] DETAILS TANAPMATH7 4.2.026. MY NOTES ASK YOUR TEACHER A state lottery commission pays the winner of the Million Dollar lottery 10 installments of $100,000/year. The commission makes the first payment of $100,000 immediately and the other n = 9 payments at the end of each of the next 9 years. Determine how much money the commission should have in the bank initially to guarantee the payments, assuming that the balance on deposit with the bank earns interest at the rate of 2%/year compounded yearly. Hint: Find the present value of the annuity. (Round your answer to the nearest cent.)