1.A family has a 30-year, $225,000 mortgage at 3.9% compounded monthly.Find:

a.the monthly payment

b.the unpaid balance after 15 years

c.the equity built up in the home after 22 years' worth of payments are made and the value of the home is calculated as $295,000

d.the total interest paid on the loan at the 30-year point (last payment is made)

Answers:a.____________b._____________c._____________d.____________