Year (n) 0 1 2 b. Another homeowner was only able to arrange for a personal...

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Year (n) 0 1 2 b. Another homeowner was only able to arrange for a personal loan that has an annual interest rate of 18.7% because their credit rating is fair and they did not use any collateral for the loan. The down payment of $14,285.15 is equal to the annual payment, Aj. i. Determine the total amount that the homeowner paid for the $45,000 system at the end of the loan (the future value). (3 points) 3 ii. Find the amount of interest paid (the future value minus the cost of the solar energy system). (1 point) c. Some percentage of the interest from a home equity loan, up to 100 %, can be used to offset the federal taxes owed. The interest from personal loans cannot be used to offset the federal taxes owed. i. The homeowner in part 2a can use 50% of the interest payments from the home equity loan to lower their federal taxes by the same amount. How much is the total offset that the homeowner receives on their federal taxes over the three years of the loan? (2 points) Year (n) 0 1 2 b. Another homeowner was only able to arrange for a personal loan that has an annual interest rate of 18.7% because their credit rating is fair and they did not use any collateral for the loan. The down payment of $14,285.15 is equal to the annual payment, Aj. i. Determine the total amount that the homeowner paid for the $45,000 system at the end of the loan (the future value). (3 points) 3 ii. Find the amount of interest paid (the future value minus the cost of the solar energy system). (1 point) c. Some percentage of the interest from a home equity loan, up to 100 %, can be used to offset the federal taxes owed. The interest from personal loans cannot be used to offset the federal taxes owed. i. The homeowner in part 2a can use 50% of the interest payments from the home equity loan to lower their federal taxes by the same amount. How much is the total offset that the homeowner receives on their federal taxes over the three years of the loan? (2 points)