Edward buys a new house and takes out a mortgage of 60,000. To pay off the mortgage, he will make monthly payments with the first payment due in one month. Given p-"^ = .12, find the amount of his payment if

(a) the payments will continue for the next 25 years;

(b) the payments will continue for the next 20 years; (c)

the payments will continue for the next 10 years.

AppendixLO1