Nate agreed to pay $550,000 for a house. He made a $125,000 down payment
and financed the balance using a 30-year, 9 % per annum compounded monthly
conventional loan.
a) How much were his monthly payments?
b) If he sold the house for $700,000 after 6 years, how much equity did he have
in the house?
c) How much is his contribution to his loan (Principal and Interest)?