$6$d$.$ Solve for $i-$ Show your work

Find the APR on a $$165,000$ loan which is amortized over $30$ years with a monthly payment of $$1,042\mathrm{.}91.$

Round to the nearest $10$ th of a percent.

Note: i$/$y represents the rate per period $($which in this case is monthly$).$ However, since an annual rate is called

for, the monthly rate must be converted to the equivalent annual rate.

Claire Comeaux wants to buy a house listed at $$190,000.$ The seller has accepted her offer of $$182,000.$ She

plans to amortize the loan over $15$ years. Current rates are $8\%.$ How much will Claire have to put down on this

house in order to keep her monthly $P$ & I payment at approximately $$1,350?$

Hint: Think in reverse. First find the loan amount $($PV$).$