1. what is the monthly payment on an interest only loan of $250,000 at 4%? You are considering a fully amortizing, constant payment mortgage (CPM) of $200,000 at 4.0% interest. The loan term is 15 years. What are the monthly payments? a) How much principal would be paid over the life of the loan? b) How much interest would be paid over the life of the loan? Given the details in question 2, how much would your monthly payment be if a balloon payment of $50,000 was due at the end of 15 years? 3. Given the details in question 2, how much would your first monthly payment be under a constant amortization mortgage (CAM)? 4. You take out a fully amortizing CPM loan of $80,000 at 6% interest over 20 years. a) 5. How much is your monthly payment? b) How much do you owe (your principal balance) at the end of ten years