Please don't use excel. If you are using a financial calculator with "PMT" buttons please let me know what button you pushed for each value. Please show all your work and answer each part of the question, I am trying to actually learn how to do this on my own so i need to see how you got the answer. Any correct answer that follows these guidelines will get a thumbs up.

Part 1. Suppose a family borrows $75,000 on a home for 30 years with the loan at 8% compounded monthly.

Find the monthly payment rounded to the enter below

a) dime_________ b) dollar________

Part 2. Find the finance charge of the loan above using the payment rounded to the dollar.