Question: Please answer number 6 and the other question is part of 6. and can you please show your work step by step ( your calculation)

Please answer number 6 and the other question is part of

Please answer number 6 and the other question is part of 6.

and can you please show your work step by step ( your calculation) thank you

6. An individual is borrowing $275,000 for a 20 year loan at 3.95% per year compounded monthly. Compute the monthly payment. 7. Continue on Q 6: Immediately after the 104th monthly payment, the home owner plans to sell the house. How much money is owed back to the bank? 8. What is the effective annual rate for the problem in Q. 6 (i.e., what is the rate you would use to compute annual instead of monthly payments)?|

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