1. You are buying a new home with a purchase price of $189,500. You have a cash down payment of $18,950 and are financing the remaining amount at an interest rate of 4.5% for 30 years. Provide the following

1. 1. Principal amount to be repaid?
2. 2. Payment amount per month for 30 years
3. 3. Total interest paid over 30 years?

2. Now suppose that you have financed the new house in problem #1 for 30 years. After 10 years into the Mortgage (April 2030), youve decided to make extra payments to pay the house off in 10 years (for a total of 20 years)

1. Current balance (April 2030)?
2. Total principal amount to be repaid?
3. New monthly payment amount?
4. Total interest amount paid over the 20 years?