Time-share sales provide an opportunity for vacationers to own a resort condo for 1 week (or more) each year forever. The owners may use their week at their own condo or trade the week and vacation elsewhere. Time-share vacation sales usually require payment in full or financing through the time-share company, and interest rates are usually in the 13% to 18% range. Suppose the cost to buy a 1-week time share in a 3-bedroom condo is $21,853. Also suppose a 10% down payment is required, with the balance financed for 15 years at 15%, compounded monthly. (Round your answers to the nearest cent.)

(a) Find the monthly payment. $

(b) Determine the total cost over the life of the loan. $

(c) Suppose maintenance fees for this condo are $400 per year. Find the annual cost of the condo over the life of the loan. Assume that the annual maintenance fees remain constant. $

(d) Use part (c) and the 10% down payment to determine the average annual cost for having this vacation condo for 1 week over the life of the loan.