Question: Part A use formula PMT Use the number from Part A and use present value annuity formula Please show all work and show decimals needed

Part A use formula PMT

Use the number from Part A and use present value annuity formula

Please show all work and show decimals needed this is the eighth time I was given a wrong answer on Chegg.

Only solve this problem if you are 100% sure on how to solve it, thank you

Part A use formula PMT Use the number from Part A and

This problem is a complex financial problem that requires several skills, perhaps some from previous sections. Clark and Lana take a 30-year home mortgage of $128,000 at 7.6%, compounded monthly. They make their regular monthly payments for 5 years, then decide to pay $1100 per month. (a) Find their regular monthly payment. (Round your answer to the nearest cent.) (b) Find the unpaid balance when they begin paying the $1100. (Round your answer to the nearest cent.) (c) How many payments of $1100 will it take to pay off the loan? Give the answer correct to two decimal places. monthly payments (d) Use your answer to part (c) to find how much interest they save by paying the loan this way. (Round your answer to the nearest cent.)

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