1. You are buying a $250,000 house for 20% down, with the rest financed at 3% for 30 years with fixed monthly payments. You must pay 2 points for the loan. At the end of 6 years, you sell the house. How much do you owe on the loan? (Round your answer to two decimal places)

2. Suppose that you borrowed $200,000 in the form of a 30-year fixed-rate mortgage with an annual interest rate of 3% with monthly payments and monthly compounding. How much of the 50^th paymentconsists of principal? (Round your answer to two decimal places)

3. Suppose that you borrowed $200,000 in the form of a 30-year fixed-rate mortgage with an annual interest rate of 3% with monthly payments and monthly compounding. How much interest will you pay in the 16^th year? (Round your answer to two decimal places)