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Solve by using the sinking fund or amortization formula

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Solve by using the sinking fund or amortization formula.

Kim purchased a new home for $275,000 with a 20% down payment and the remainder amortized over 15 year period at 9% interest.

 

A) What amount (in $) did Kim finance?

 

B) What equal monthly payments (in $) are required to amortize this loan over 15 years? (Round your answer to the nearest cent.)

 

C) What equal monthly payments (in $) are required if Kim decides to take a 20 year loan rather than a 15 year loan? (Round your answer to the nearest cent.)