Thomas and Salom plan to purchase a home for $279,000. They will pay 20% down and...

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Thomas and Salom plan to purchase a home for $279,000. They will pay 20% down and finance the remainder for 15 years at the APR of 3.9%, compounded monthly. a) How large are the monthly payments? $ b) What will be their loan balance right after they have made their 36th payment? $ c) How much interest will they pay during the 3rd year of the loan? $ d) If they were to increase their montly payments by $130, how long would it take to pay off the loan? Give your answer in whole months. Thomas and Salom plan to purchase a home for $279,000. They will pay 20% down and finance the remainder for 15 years at the APR of 3.9%, compounded monthly. a) How large are the monthly payments? $ b) What will be their loan balance right after they have made their 36th payment? $ c) How much interest will they pay during the 3rd year of the loan? $ d) If they were to increase their montly payments by $130, how long would it take to pay off the loan? Give your answer in whole months.