a. Mr. Bill S.? Preston, Esq., purchased a new house for ?$60,000 and paid ?$20,000 upfront. How much does he need to borrow to purchase the? house? ?
b. If Bill agrees to pay the loan over the next 30 years in 30 equal? end-of-year payments plus 9 percent compound interest on the unpaid? balance, what will these equal payments? be? ? (Round to the nearest? cent.)