A $92,000 mortgage has a 30-year term and a 9% nominal interest rate. (a) What is the

Question:

A $92,000 mortgage has a 30-year term and a 9% nominal interest rate.
(a) What is the monthly payment?
(b) After the first year of payments, what fraction of the loan has been repaid?
(c) After the first 10 years of payments, what is the outstanding balance?
(d) How much interest is paid in Month 25? How much principal?