Question: Mr. Lamb borrowed $6775 at 8.75 % compounded monthly. He agreed to repay the loan in equal monthly payments over five years. a) What is

Mr. Lamb borrowed $6775 at 8.75 % compounded monthly. He agreed to repay the loan in equal monthly payments over five years. a) What is the size of the monthly payment?(Points=2) b) How much of the 24th payment is interest?(Points=2) c) What is the principal repaid in the 37th payment?(Points=2) d) Prepare a partial amortization schedule showing details of the first three payments, the last three payments, and totals.(Points=4)

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