Answer
a) $44,000$
b) $176,000$
c) $5280$
d) $1171$
e) $245,560$
Work Step by Step
a) $220,000\times .20 = 44,000$
b) $220,000 - 44,000 = 176,000$
c) $176,000 \times .03 = 5280$
d) $PMT = \frac{176,000(\frac{.07}{12})}{1-(1+\frac{.07}{12})^{-12(30)}} = 1171$
e) $1171\times 30\times 12-176,000=421,560 - 176,000 = 245,560$
