17. Find your total monthly payment for a home mortgage of $305,580 if the interest rate is 7.5% for a term of 30 years, home insurance is $65 per month, and property tax is $2,000 per Year. Property taxes will be paid monthly to the mortgage company. [5 pts] YEARS (Table is per $1,000 of loan) PAYMT = [table rate/$1000 * loan] RATE % 20 25 30 6.5 $7.46 $6.75 $6.32 a) Monthly loan payment 7.0 7.75 7.70 6.65 b) Monthly property tax 7.5 8.06 7.39 c) Monthly Home insurance d) Total payment $ 6.99 $ 18. Using Problem #17: The down payment was $40,000. In addition, the bank charges one point on the mortgage of $305,580 plus closing costs of $6,800. Find the total amount paid for the house in #17 for the 30 year term; include down payment, principal and interest, 1 point, and closing costs. Do not include insurance or taxes. [6 pts] (NOTE: 30 years = 360 payments) a) Down Payment b) Total house payments (FV) c) 1 point (1% of mortgage) d) Closing costs e) Total Amount Paid for the House $ f) How much is the total interest that will be paid on the $305,580 mortgage? [INT = FV - LOAN) $ $ $