1.If you were going to buy your office from Mrs.Beach for $500,000 with a 10% down payment and 15 years with a 6% interest rate.

A. How much would your payment be each month?

B. What would the principal and interest payment on the first payment?

C. What would be he principal and interest payment on twelfth payment?

D. What type of problem is this?______

2. Same problem as above, but assume that the loan was for 20 year?

A. What is the new payment?

B. What would be the principal and interest payment on the first payment?

C. What would be the principal and interest payment on the twelfth payment?

D. What type of problem is this?______

Please show all the work and equation used to get answer.