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You purchase a plot of land worth $78.000 to create a community garden, by securing a 15-year loan charging 5.43% APR. compounded monthly, and requiring

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You purchase a plot of land worth $78.000 to create a community garden, by securing a 15-year loan charging 5.43% APR. compounded monthly, and requiring monthly payments of $545. Round all answers to the nearest dollar. 1. Assuming that you put some money down, what was your original loan amount? Original Loan Amount: $ b. What is the outstanding balance on your loan after making 5 years of payments? Outstanding Balance After 5 Years: $ c. How much equity do you have in the garden after 5 years? Equity After 5 Years: $

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