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You have just borrowed $120,000 using a 15-year, fixed-rate, INTEREST-ONLY loan at 6.50 percent interest with monthly payments. A. How large is the total payment

You have just borrowed $120,000 using a 15-year, fixed-rate, INTEREST-ONLY loan at 6.50 percent interest with monthly payments.

A. How large is the total payment Randy must make in the 33rd month of this loan?

B. If Randys first payment was on February 1st of this year, how much total interest will Randy pay on this loan this year?

C. How much will Randy owe on this loan at the end of the fourth year?

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