1)Example: You have just negotiated a 5 year mortgage on $100,000 amortized over 30 years at a rate of 8%.

A)What are the monthly payments?

B)What are the principal and interest payments each month for the first 3 months of payments?

C)How much will be left at the end of the 5 year contract?

D)If the mortgage terms do not change over the entire amortization period, how much interest and principal reduction result from the 300th payment?