Question: a, b, c 4. A couple purchased a house by taking out $305,000 mortgage (loan) with monthly payments for 30 years. The interest rate of

a, b, c

4. A couple purchased a house by taking out $305,000 mortgage (loan) with monthly payments for 30 years. The interest rate of the loan was 5.7% compounded monthly. a) (6 pts.) How much would the scheduled payments on the loan be? b) (7 pts.) If they pay $150 extra each month, how long will it take to pay off the loan? c) (3 pts. How much does the couple save in payments over the life of the loan by paying $150 extra each month

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