$ 500 is paid every month for 20 years as a mortgage amount for a cottage. Initially, a downpayment of 5,000 was made. Consider a nominal interest rate set at 6 percent. Consider compounding periods...

$ 500 is paid every month for 20 years as a mortgage amount for a cottage. Initially, a downpayment of 5,000 was made. Consider a nominal interest rate set at 6 percent. Consider compounding periods as monthly a) Draw the cash flow diagram b) What is the monthly interest rate? c) What was the purchase price of the cottage?