Again I posted this question please send correct answer this time.

(See Example 7) The Hiles family has obtained a house loan of $47,000 for 25 years at 6.5% interest. The monthly payments are $317.35. (Round your answers to decimal places.) (a) What is the balance of their loan after 1 year? $ (b) What is the balance of their loan after 2 years? $ (c) What is their equity after 1 and 2 years? 1yr$ 2yr$ Compare the total payments made over 1 year with the equity after 1 year. The total payments made over the one-year period was $ , as compared to \$ of equity after the one-year period. Compare the total payments made over 2 years with the equity after 2 years. The total payments made over the two-year period was $, as compared to $ of equity after the two-year period. (See Example 7) The Hiles family has obtained a house loan of $47,000 for 25 years at 6.5% interest. The monthly payments are $317.35. (Round your answers to decimal places.) (a) What is the balance of their loan after 1 year? $ (b) What is the balance of their loan after 2 years? $ (c) What is their equity after 1 and 2 years? 1yr$ 2yr$ Compare the total payments made over 1 year with the equity after 1 year. The total payments made over the one-year period was $ , as compared to \$ of equity after the one-year period. Compare the total payments made over 2 years with the equity after 2 years. The total payments made over the two-year period was $, as compared to $ of equity after the two-year period