Jin decided to buy his dream car worth 1,125,000 pesos. The seller requires a 20% down payment while the rest of the payment will be settled in 15 years with an interest rate of 3% per year compounded...

Jin decided to buy his dream car worth 1,125,000 pesos. The seller requires a 20% down payment while the rest of the payment will be settled in 15 years with an interest rate of 3% per year compounded every month.

a.) Find Jin’s monthly payment.

b.) If after 10 years, he decided to pay off the loan, calculate the amount he has to pay.

Note:

for is the monthly payment 6215.47 or 6215.23 ?