1. You have arranged a 30-year mortgage with a 14% annual interest rate in order to purchase a $90,000 home. You are able to reduce the amount of money you need to borrow by making a down payment of $20,000, but you must borrow the rest. You plan to make only one payment per year. What will your annual payment be? 2. Consider again the mortgage from Problem #1. Of the first payment made, how much of the payment is to cover the interest payment and how much is for payment on the principal? 3. Consider once again the mortgage from Problem #1. How much will each payment be over the 30-year period if the payments are made monthly, instead of annually